M.S. Sahoo head of Insolvency Board likely to succeed Ajay Tyagi, Chairman of SEBI

The government is in the process of selecting the candidate to take over as the next chairman of the Securities and Exchange Board of India (SEBI) from Ajay Tyagi, whose term ends on August 31.

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The government is in the process of selecting the candidate to take over as the next chairman of the Securities and Exchange Board of India (SEBI) from Ajay Tyagi, whose term ends on August 31.

Dr. M.S. Sahoo, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), is reportedly one of the shortlisted candidates. He has served as a Member of the Competition Commission of India, Secretary of the Institute of Company Secretaries of India (ICSI), Member of the Securities and Exchange Board of India, Economic Adviser with the National Stock Exchange of India and held senior positions in Government of India as a Member of Indian Economic Service.

He has assisted in development and refinement of the Indian Financial Code (IFC) recommended by the Financial Sector Legislative Reforms Commission (FSLRC). He has also served on Boards of organisations, including Oriental Bank of Commerce, Management Development Institute, National Institute of Securities Markets (NISM).

The candidates will be interviewed by a search panel headed by the cabinet secretary. The panel can also consider candidates who have not applied for the position, the report added.

According to the report, the search panel will also interview candidates for the role of deputy governor of the Reserve Bank of India. The government is also looking to appoint a new Comptroller and Auditor General as the term of Rajiv Mehrishi ends August 7.

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