Govt invites applications for post of Sebi chairman in place of Ajay Tyagi


The finance ministry has invited purposes to appoint the up coming chairman of the Securities and Trade Board of India (Sebi) to realize success Ajay Tyagi, whose five-calendar year phrase will come to an conclusion in February.


Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as Sebi chairman on March 1, 2017, for a interval of 3 several years. Subsequently, he was specified a six-month extension and later in August 2020, tenure was extended by 18 months.







In a public recognize dated Oct 28, the ministry has invited programs from suitable candidates for the submit of Sebi chairman for a utmost period of five many years or till 65 years, whichever is previously.


Purposes of qualified candidates in prescribed proforma along with licensed copies of needed paperwork may be forwarded, by a good channel (anywhere relevant) on or just before December 6, 2021 a community recognize issued by the Finance Ministry’s Financial Affairs Section mentioned.


“Incomplete apps and purposes been given right after the last date shall not be considered,” it mentioned.


In the previous, the governing administration has given extension to U K Sinha for three decades, building him the second longest-serving main of Sebi after D R Mehta.


In the situation of Tyagi, the authorities issued appointment notification 2 times.


According to the first notification issued on February 10, 2017, Tyagi, the then More Secretary (Investment decision) in Division of Financial Affairs, was appointed chairman of Sebi for a period not exceeding 5 many years or till the age of 65 yrs or until finally further more order, whichever is earlier.


Subsequently, yet another notification curtailed his appointment to an first period of three a long time.


As per the treatment for the appointment of regulators, the candidates will be shortlisted by the Economic Sector Regulatory Appointments Lookup Committee (FSRASC) headed by Cabinet Secretary.


The shortlisted candidates are interviewed by the panel comprising Economic Affairs Secretary and a few exterior associates acquiring area know-how.


Primarily based on interaction, FSRASC endorses title to the Appointments Committee of Cabinet headed by Primary Minister Narendra Modi for acceptance.
(Only the headline and picture of this report could have been reworked by the Enterprise Normal personnel the relaxation of the material is auto-produced from a syndicated feed.)

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