Finance Ministry invites applications for new Sebi chief

New Delhi: The Finance Ministry has invited applications for the next chairman of Securities and Exchange Board of India (Sebi) to succeed Ajay Tyagi, whose three-year term comes to an end next month.

Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as head of the market regulator in 2017 for the period of three years. He assumed charge on March 1, 2017. It was widely expected that Tyagi would get at least two years' extension given his stellar performance on the job.

However, the public notice dated January 24 inviting application from eligible candidates indicates that the government in not inclined to give an extension of two years to the incumbent. Applications of eligible candidates in prescribed proforma along with attested copies of annual confidential report for the last five years, vigilance clearance and no penalty and integrity certificate in case of serving government employees should reach on or before February 10, a public notice issued by the Finance Ministry's Economic Affairs Department said.