Dredging Corp MD, CEO Victor’s false claims: MBA from non-existing college, fake salary; suspended from job

Some of the major facts revealed by the investigation showed that Victor had allegedly suppressed the information of his dismissal from Dredging Corp, which happened way back in the year 2000.

Dredging Corp MD, CEO Victor’s false claims: MBA from non-existing college, fake salary; suspended from job
At present, the Visakhapatnam Port Authority has the largest stake in Dredging Corp. (File photo)

GYV Victor, Managing Director and Chief Executive Officer of Dredging Corp of India, has been suspended for alleged forgery to obtain the top job. The company said in a statement that the documents submitted by Victor were found to be untrue and didn’t support his claim. The ‘wordings’ of experience certificates submitted by Victor were found to be forged. The enquiry into the selection process revealed that Victor had suppressed facts. This in turn means that he didn’t have the qualifications for the position, Dredging Corp said in the statement. After the probe, Victor has been suspended, it said.

Some of the major facts revealed by the investigation showed that Victor had allegedly suppressed the information of his dismissal from Dredging Corp, which happened way back in the year 2000. At that time, Victor was dismissed on disciplinary grounds. This was crucial information as any employee ever dismissed was not allowed to be re-employed by Dredging Corp in any role whatsoever. He had also claimed that he had worked at Amareena Group in the capacity of a director. However, he could never furnish the documents supporting his claim, the company said in the statement.

Another educational falsehood claimed by Victor was his MBA degree from one Indian Institute Management Services. The Dredging Corp enquiry said that no such institute exists in the National Capital. He also claimed to have worked for a company with a Rs 500 crore turnover. At this company, he claimed to have drawn a salary of Rs 50 lakh. Dredging Corp says that both these claims were also found to be incorrect.

Meanwhile, Dredging Corp said in an another statement that it has appointed Capt S Divakar as the DCI Managing Director with additional charge of the Dredging Corp CEO. The new Dredging Corp boss began his career in 1987 as a ‘cadet’. In more than two decades, Divakar rose from cadet to the post of ‘Master of Dredger’.

GYV Victor was appointed as MD and CEO of Dredging Corp in March, 2021. His appointment as MD and CEO was the first major development at Dredging Corp after the four big ports bought Centre’s stake in the PSU. At present, the Visakhapatnam Port Authority has the largest stake in Dredging Corp.

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