Ajay Tyagi Not Among The Two Dozen Who Have Applied For SEBI Chairman Post
The SEBI headquarters in Mumbai. (Photograph: BloombergQuint)

Ajay Tyagi Not Among The Two Dozen Who Have Applied For SEBI Chairman Post

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The Securities and Exchange Board of India has received two dozen applications for the post of the market regulator’s chairman, sources said on Monday.

The applicants include two whole-time members of SEBI, a couple of serving and retired bureaucrats, but not outgoing chairman Ajay Tyagi.

The last date for applying for the post was Feb. 10.

Tyagi was appointed for an initial period of three years and was eligible for an extension of two years, but the government decided to call for a fresh selection process by issuing an advertisement on Jan. 24.

The 1984 batch IAS officer of Himachal Pradesh cadre was appointed as the SEBI chairman on March 1, 2017. His term ends on Feb. 28.

According to procedure for appointment of heads of regulatory bodies, candidates are shortlisted by the Union Cabinet's Financial Sector Regulatory Appointments Search Committee headed by the cabinet secretary.

The shortlisted candidates are then interviewed by a panel comprising the economic affairs secretary and three external members having domain knowledge. Based on the interaction, FSRASC recommends the name to the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi for approval.

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