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Time for another surprise: Who will be next SEBI Chief?

By IndianMandarins- 25 Feb 2020
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It’s time for another surprise one may expected from NaMo administration. A week has left in the completion of tenure of outgoing SEBI Chief Ajay Tyagi (IAS:1984:HP) and as usual there is still cluelessness over his successor.

Indianmandarins has reliably learnt that tie is between 1984 and 1985 batch IAS officers. It is believed that Atanu Chakraborty (IAS:1985:GJ) may be picked up as the next SEBI chief. At the same time Chakraborty’s name has been doing rounds as next CAG August this year. However, no one has ruled out the possibility of a dark horse emerging to grab the coveted post.

If top sources are to be believed, it was not just a coincidence that Ajay Tyagi’s term was cut short after his appointment as UK Sinha’s successor. It is still believed that trimming off Tyagi’s term was part of an advance succession plan.

The order, issued on February 10, had said that Tyagi’s term would be for a period not exceeding 05 years or till he completed the age of 65. A week later another notification issued on February 18, 2017 had said that it was cut short from five years to three years i.e. a tenure would end on March 01, 2020. Then it was said that the revised order was issued to clear the ambiguity on the length of the tenure. But apparently it was part of an advance succession plan. Keep guessing the name till the NaMo administration announces the name of Tyagi’s successor.

It is ironic that the passionate reformist Tyagi, who took over as the market regulator amid a series of turbulence be it Karvy episode or IL&FS meltdown, would simply walk away next week. He also pushed ambitious corporate-governance reforms, such as splitting the post of Chairman and Managing Director which is still an unfinished agenda.

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