Govt Seeks Applications For SEBI Chief Post As Madhabi Puri Buch’s Tenure Approaches End

The Ministry of Finance has initiated the process of appointing the next Chairperson of the Securities and Exchange Board of India (SEBI). Applications for the position must be submitted by February 17, with the tenure of the current Chairperson, Madhabi Puri Buch, concluding on February 28, 2025.

As per the advert titled ‘Filling up the post of Chairman in Securities and Exchange Board of India’ released by the Department of Economic Affairs (Financial Markets Division) the appointment for the SEBI Chairperson will 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. The selected candidate will have the option to receive pay either as admissible to a Secretary to the Government of India or a consolidated monthly salary of Rs 5,62,500 (without house and car). Applications must be submitted by February 17, as the tenure of the current Chairperson, Madhabi Puri Buch, ends on February 28, 2025.

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Madhabi Puri Buch’s Tenure

Madhabi Puri Buch became SEBI Chairperson on March 2, 2022, for a three-year tenure. She was the first woman to occupy this post and had previously worked as a Whole-Time Member at SEBI from April 2017 to March 2022.

During her tenure, Buch faced charges related to offshore finances affiliated with the Adani Group, as well as claims of creating a hostile work climate inside SEBI. These concerns were first highlighted by the Congress party, short-seller Hindenburg, and certain SEBI employees, but they have subsequently been solved.

SEBI Leadership Timeline

A SEBI Chairperson generally serves for three years, while exceptions have been made in the past. Former Chairpersons UK Sinha and Ajay Tyagi served for six and five years, respectively, before Buch’s appointment. Sinha served from February 18, 2011, to March 1, 2017, while Tyagi's tenure was from March 1, 2017, until February 28, 2022.

The new SEBI Chairperson will play an essential role in preserving market stability and developing regulatory changes.