Madhabi Puri, three secretaries in race for SEBI Chairman post

Apart from Puri’s experience with market, Centre is also keen for a first woman to head SEBI. But that said, the criteria for heading SEBI is certainly not gender based and the selection would be only on the eligibility parameters set by the selection panel headed by Cabinet secretary Rajiv Gauba. The Sebi chairman’s position equals that of a secretary inthe government.

The selection panel is expected to meet next week. The Centre had called for applications from interested candidates before February 10 after inviting applications from candidates from January through a public notice. The appointment will be subject to vigilance clearance and other prescribed processes,it said.

The candidates will be shortlisted by The Financial Sector Regulatory Appointments Search Committee (FSRASC), which then will recommend the shortlist tothe government.

Sources said two top finance ministry bureaucrats – Finance secretary Rajeev Kumar, DEA Secretary Atanu Chakraborty are also in the list of candidates. Injeti Srinivas, secretary, ministry of corporate affairs who was earlier on SEBI board is also there. All three are due for retirements.

It is government’s prerogative to call any candidate it deems fit to be SEBI chairman even without the person formally applying. The high profile case of NSE co-location scam saw finality during Tyagi’s time with SEBI imposing penalty on NSE and other restrictions for its alleged involvement.

Tyagi is also eligible for a new term if selected till he attains 65 years of age. UK Sinha, Tyagi’s predecessor was given an extension, being the chairman of SEBI for six years. Sebi’s whole-time member Buch’s term ends in April this year. NS Vishwanathan, currently on the board of Sebi, is also on the list of candidates.