AN EARLY START

The government has begun the search for a successor to U.K. Sinha, chairman of the Sebi, whose tenure will end in February next year. Mr Sinha’s will have had amongst the longest stints as Sebi chief, having been appointed for three years in 2011 then granted a two-year extension and another year’s this last February because the government could not finalise anyone from the shortlist then.

Sources say that the successor to the 1976-batch Bihar cadre IAS officer will be named on the recommendation of the Financial Sector Regulatory Appointments Search Committee headed by Cabinet Secretary P.K. Sinha. Though the government has invited applications for the post, apparently the search panel can recommend any other person who it thinks has the requisite merit.

Last time former Forward Markets Commission chairman Ramesh Abhishek, SBI chairperson Arundhati Bhattacharya and Thomas Mathew, additional secretary at Rashtrapati Bhavan were frontrunners for the post of Sebi chairman. This time too, the applicants are likely to be equally illustrious though Ms Bhattacharya want figure certainly since she’s likely to snag an extension too.