Just keep observing and analysing various youtube-based news channels and social media like Twitter and Facebook. It appears as if there has been a massive hunt to rule out any possibility for Ramesh Abhishek to become SEBI Chief. It would give a glimpse of how the big sharks of the market are desperate about their say in the market regulator. 

But this is something serious as the Centre has told the Madras High Court that the candidature of former Chairman of the Forward Markets Commission (FMC) Ramesh Abhishek (Retd IAS:1982:BH) will not be considered for SEBI Chairman post. Abhishek retired last year as Secretary Department for Promotion of Industry and Internal Trade.

A writ petition was filed by T Palpandi under the Constitution's Article 226 challenging the possible candidature of Abhishek to head the market regulator. The petition also sought not to consider Abhishek for the coveted position. The writ petition sought the Madras HC’s intervention directing the government to ensure that the person is appointed as the SEBI Chairman should be a person of high standing, integrity and dedicated to protecting the interest of investors.

When the matter came up for hearing last week before a divisional bench, comprising of Justice M M Sundresh and Justice R Hemalatha, counsel for the Centre, N Ramesh, submitted that Abhishek did not apply and therefore there was no question of short-listing and considering him for SEBI top post.

Following the clarification and submission by the Central government, the Madras High Court disposed of the writ petition.