New Delhi: The Ministry of Finance has invited applications for the post of Chairperson for Securities and Exchange Board of India (SEBI) by February 17.
Current SEBI Chairperson Madhabi Puri Buch’s tenure ends on February 28.
“Government of India invites applications from the eligible candidates for filling up the post of Chairman in Securities and Exchange Board of India (SEBI), Mumbai. The appointment shall be made for a maximum period of Five years from the date of assumption of charge or till attaining the age of 65 years of the appointee, whichever is earlier,” read the advertisement by the Department of Economic Affairs (Financial Markets Division).
The new SEBI chairperson will have the option to receive pay either (a) as admissible to a Secretary to the Government of India, or (b) a consolidated salary of Rs 5,62,500 (Rupee Five lakh Sixty-Two Thousand and Five Hundred only) per month (without house and car).
Madhabi, the first female chairperson of the market regulators, took charge on March 2, 2022, after being a whole-time member at SEBI for five years.
Last year, Madhabi faced a tough time after now-disbanded short-seller US Hindenburg claimed that the SEBI head and her husband had invested in offshore entities that were allegedly part of a fund structure managed by India Infoline and in which Vinod Adani, Gautam Adani’s brother, also had investments.
Congress party also accused Madhabi and her husband of code of conduct violations, while a section of SEBI employees accused her of creating a ‘toxic work environment’.
Madhabi dismissed the allegations as baseless, while Adani Group denied a commercial relationship with the SEBI chairperson or her husband.
