<p>New Delhi: Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch, whose tenure has been marked with controversies and conflict of interest allegations, is unlikely to get extension as the Finance Ministry on Monday issued an advertisement inviting application for the position.</p><p>“Government of India invites applications from the eligible candidates for filling up the post of chairman in Securities and Exchange Board of India (Sebi),” the Financial Markets Division of the Department of Economic Affairs said in an advertisement. The last date for submitting the application is February 17, 2025.</p><p>The three-year tenure of Buch, who is the first female chairperson and the first private sector head of India’s stock market regulator, ends on February 28. Prior to assuming the role of Sebi chairperson on March 2, 2022, Buch served as a whole-time member of the market regulator for five years from April 2017 to February 2022.</p><p>She will be the first Sebi chairperson in more than a decade not to get an extension. Her predecessor Ajay Tyagi was given two extensions – first for six months and then another 18 months. Tyagi served as Sebi chief for five years from March 1, 2017 to February 28, 2022.</p>.Sebi launches digital knowledge repository Dharohar on Republic Day.<p>Tyagi’s predecessor U K Sinha headed the market regulator for six years from February 18, 2011 to March 1, 2017. Sinha was appointed for five years and got an extension of one year.</p><p>In the new application, the government has offered a five-year tenure. “The appointment shall be made for a maximum period of five years from the date of assumption of charge or till attaining the age of 65 years of the appointee, whichever is earlier,” the advertisement said.</p><p>The clause regarding age limitation was the same in the last advertisement also issued in October 2021. Buch turned 60 this month.</p><p>In the recent appointments of financial sector regulators the government has opted for taking decisions closer to the end date. Announcement regarding the appointment of new RBI governor was made less than two weeks before the end of the tenure of Shaktikanta Das.</p><p>The Sebi chairperson is appointed on the recommendations of the Financial Sector Regulatory Appointments Search Committee (FSRASC), which is headed by Cabinet Secretary.</p><p>As per the advertisement, the new Sebi chairman can opt between receiving pay and perks equivalent to a secretary to the government of India or a consolidated salary of Rs 5.62 lakh per month, without house and car.</p>
<p>New Delhi: Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch, whose tenure has been marked with controversies and conflict of interest allegations, is unlikely to get extension as the Finance Ministry on Monday issued an advertisement inviting application for the position.</p><p>“Government of India invites applications from the eligible candidates for filling up the post of chairman in Securities and Exchange Board of India (Sebi),” the Financial Markets Division of the Department of Economic Affairs said in an advertisement. The last date for submitting the application is February 17, 2025.</p><p>The three-year tenure of Buch, who is the first female chairperson and the first private sector head of India’s stock market regulator, ends on February 28. Prior to assuming the role of Sebi chairperson on March 2, 2022, Buch served as a whole-time member of the market regulator for five years from April 2017 to February 2022.</p><p>She will be the first Sebi chairperson in more than a decade not to get an extension. Her predecessor Ajay Tyagi was given two extensions – first for six months and then another 18 months. Tyagi served as Sebi chief for five years from March 1, 2017 to February 28, 2022.</p>.Sebi launches digital knowledge repository Dharohar on Republic Day.<p>Tyagi’s predecessor U K Sinha headed the market regulator for six years from February 18, 2011 to March 1, 2017. Sinha was appointed for five years and got an extension of one year.</p><p>In the new application, the government has offered a five-year tenure. “The appointment shall be made for a maximum period of five years from the date of assumption of charge or till attaining the age of 65 years of the appointee, whichever is earlier,” the advertisement said.</p><p>The clause regarding age limitation was the same in the last advertisement also issued in October 2021. Buch turned 60 this month.</p><p>In the recent appointments of financial sector regulators the government has opted for taking decisions closer to the end date. Announcement regarding the appointment of new RBI governor was made less than two weeks before the end of the tenure of Shaktikanta Das.</p><p>The Sebi chairperson is appointed on the recommendations of the Financial Sector Regulatory Appointments Search Committee (FSRASC), which is headed by Cabinet Secretary.</p><p>As per the advertisement, the new Sebi chairman can opt between receiving pay and perks equivalent to a secretary to the government of India or a consolidated salary of Rs 5.62 lakh per month, without house and car.</p>