The Securities and Exchange Board of India (SEBI) on Monday appointed Madhabi Puri Buch as the chairperson.

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The tenure of Ajay Tyagi, Sebi’s current chairperson, ends on February 28. The market was awaiting clarity on whether Sebi would get a new chairman or the current one would get another extension.

To be sure, the finance ministry invited applications in October for the post of chairman and the deadline for submission was December 6.

Last week, Finance Minister Nirmala Sitharaman said "the process of calling for application has already happened... shortlisting probably is yet to happen" while responding to a question regarding the tenure of Tyagi coming to an end this month.

When asked whether the incumbent will get an extension or a new person will be appointed, she had said, "you have to wait till February 28 to know what we are going to do on it (Sebi Chairman)."

Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as Sebi Chairman on March 1, 2017, for a period of three years. Subsequently, he was given a six-month extension and later in August 2020, his tenure was extended by 18 months.

This is a developing story

First Published:Feb 28, 2022 2:01 PM IST