Govt can do better with Sebi chairman’s appointment process
Hopefully, new Sebi chairman Ajay Tyagi can make the most of the three-year term and go about his job without fear or favour
The appointment of Ajay Tyagi as chairman of the Securities and Exchange Board of India (Sebi) is unlikely to face as much scrutiny as his predecessor U.K. Sinha’s. The outgoing Sebi chief had to face a number of public interest litigations, questioning his appointment as well as an extension of his tenure. The courts have dismissed each of these petitions. While Tyagi may not have to go through this ordeal, things have been a bit wobbly even before his first day in office.