While the name of new SEBI Chairman may be announced any time before February 17, the search for a new whole time member has also kicked off. The vacancy is anticipated against Prashant Saran whose tenure is ending shortly. Entries of applications for the post are open till March 11.
Among the current three whole time members, the tenures of Prashant Saran and Rajeev Kumar Agarwal would end this year, while that of third member S Raman will end in 2017. In addition to Chairman, the SEBI Board has provision for three whole time members and two part time Members. At the moment, there is only one part time member. Arun Sathe is said to be close to BJP and was appointed in July 2015. Clearly, the government has to appoint one more part time member.