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

NEW DELHI: The finance ministry has invited purposes to nominate the subsequent chairman of the Securities and Change Board of India (Sebi) to succeed Ajay Tyagi, whose five-year time period involves an finish 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 three years. Subsequently, he was given a six-month extension and later in August 2020, tenure was prolonged by 18 months.
In a public discover dated October 28, the ministry has invited purposes from eligible candidates for the publish of Sebi chairman for a most interval of 5 years or until 65 years, whichever is earlier.
Purposes of eligible candidates in prescribed proforma together with licensed copies of required paperwork could also be forwarded, via a correct channel (wherever relevant) on or earlier than December 6, 2021 a public discover issued by the Finance Ministry’s Financial Affairs Division mentioned.
“Incomplete purposes and purposes obtained after the final date shall not be thought-about,” it mentioned.
Up to now, the federal government has given extension to U Okay Sinha for 3 years, making him the second longest-serving chief of Sebi after D R Mehta.
Within the case of Tyagi, the federal government issued appointment notification twice. In line with the primary notification issued on February 10, 2017, Tyagi, the then Further Secretary (Funding) in Division of Financial Affairs, was appointed chairman of Sebi for a interval not exceeding 5 years or until the age of 65 years or till additional order, whichever is earlier.
Subsequently, one other notification curtailed his appointment to an preliminary interval of three years.
As per the process for the appointment of regulators, the candidates might be shortlisted by the Monetary Sector Regulatory Appointments Search Committee (FSRASC) headed by Cupboard Secretary.
The shortlisted candidates are interviewed by the panel comprising Financial Affairs Secretary and three exterior members having area information.
Primarily based on interplay, FSRASC recommends title to the Appointments Committee of Cupboard headed by Prime Minister Narendra Modi for approval.

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