After row, economist Ajit Ranade quits as Gokhale Institute VC

Noted economist Dr Ajit Ranade has resigned as vice chancellor of the Gokhale Institute of Politics and Economics (GIPE), officials of the prestigious Pune-based institution said on Monday.

Ranade was earlier removed from the position on September 14 by the then chancellor Bibek Debroy, after a fact-finding committee concluded that his appointment as the GIPE's VC did not conform to the UGC regulations on minimum qualifications for the appointment of teachers and other academic staff.

On October 22, Sanjeev Sanyal, the newly appointed chancellor of GIPE, withdrew the order of Ranade's removal as the vice-chancellor, allowing him to continue in the role.

Ranade, in his resignation letter dated October 29 and addressed to Sanyal, stated he is quitting the post of GIPE's vice chancellor due to personal reasons.

"Please note that this letter of resignation does not in any way indicate my acceptance of any defect or ineligibility in my appointment as Vice Chancellor in October 2021," Ranade said in the letter.

He also thanked GIPE's Board of Management, trustees of the Servants of India Society (SIS-the parent body of the institute) and college staff for the opportunity to lead the institute.

Officials at the institute confirmed that Ranade has resigned as VC.

Following his removal from the VC's post in September, Ranade had approached the Bombay high court to challenge the decision and managed to secure a stay order.

After the high court stayed the order of Ranade's removal, Debroy, who was then chairman of the Economic Advisory Council to the Prime Minister, resigned as chancellor on September 27, stating he had no moral right to continue on the post at GIPE.

Debroy (69) passed away in Delhi on November 1.

The GIPE, established in 1930 by the SIS, is the oldest research and training institute in economics in the country.

It is dedicated to research into the socio-economic dimensions of Indian society and carries forward the legacy of Gopal Krishna Gokhale, according to the institute's website.