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Strange things happening to Tyagi

By IndianMandarins- 23 Feb 2017
341

strange-things-happening-to-tyagi  Sebi's Chairman-designate Ajay Tyagi was on Wednesday sent back to his cadre state, Himachal Pradesh, from his current posting in Finance Ministry, to help him avail the benefit of promotion. The competent authority has approved repatriation of Tyagi, a 1984 batch IAS officer, to his cadre to help him avail his promotion, a two-line order issued by DoPT said. The order has come barely a week before Tyagi is slated to take over as Chairman of the Securities and Exchange Board of India (Sebi) from incumbent U K Sinha, whose extended tenure ends on March 1. A senior government functionary said the order is peculiar as Tyagi is unlikely to get the scale of Chief Secretary in his cadre state. Vidya Chander Parkha, a 1983 batch IAS officer, is at present Chief Secretary of Himachal Pradesh and has a tenure till October 2019. Tyagi's appointment order as next Sebi chief, issued on February 10, for a period of five years was followed by another directive a week later in which the government curtailed his tenure as chief of the capital market regulator by two years. The 58-year-old Tyagi, who has been serving as Additional Secretary (Investment) in the Department of Economic Affairs, will join as the Securities and Exchange Board of India (Sebi) Chairman for an initial period of three years starting March 1.

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