The Appointments Committee of the Cabinet has extended the tenure of the incumbent Securities and Exchange Board of India (SEBI) Chairman Ajit Tyagi for a period of 18 months i.e. up to Feb 2020. Mr. Tyagi had taken charge of March 2017.
Mr. Tyagi is a 1984 batch IAS officer from Himachal Pradesh cadre and was the Additional Secretary (Investment) in the Department of Economic Affairs before he was appointed as the SEBI chairman.
He has headed the committee of Economic Affairs that crafted the draft code on the resolution of financial firms.
He represented India at the Financial Action Task Force (FATF), an intergovernmental body set up to combat money laundering, terror financing and other related threats. He also represents India at the Financial Stability Board, an international body to monitor global financial systems. He is also instrumental in the merger of commodities market regulator Forwards Market Commission (FMC) with SEBI.
He has led the initiatives on corporate bonds markets. He has held the charge of investment in the ministry and has been instrumental in pushing FDI liberalization. Senior officials consider him to be ‘quiet worker’ yet brilliantly methodical in his fields of expertise. He will officially take charge of this extended term on Sep 1, 2020.Subscribe Taxscan AdFree to view the Judgment