On Wednesday the government had extended the Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi’s term by eighteen months. The term of appointment of Sree Ajay Tyagi as the Chairman of Securities and Exchange Board of India by a further period of eighteen months between 01/09/2020 up to 28/02/2022 or under further order, an order on the website of the department of personal training.
Ajay Tyagi was an additional secretary (investment) in the Department of Economic Affairs before and he was a 1984 batch IAS officer from the Himachal Pradesh cadre and he was appointed as the SEBI Chairman. Replacing UK Sinha, Ajay Tyagi was appointed as the chairman of the market regulator on 10 February 2017 and he took charge of the chairman’s office on 1st March 2017.
He is from Uttar Pradesh and he completed his post-graduation in economics and he took a master’s degree in Public Administration from Harvard University and he holds a Master in Technology (computer science). A decision was taken to ensure that there is no disruption at regulators at a time like the current COVID-19 and related uncertainties, the Indian economy, and the corporations are going through. This is his second extension while the first was an extension of six months which was granted in February.
As the Chairman of SEBI Ajay Tyagi performed extremely very well as he has been humble, he has open ideas, a tough enforcer of rules and he was without fear or favor and above all these, he has been a good leader. We need a SEBI which should be in a simplified and easy to understand set of regulations, which will enable ease of doing business.
The regulator is by far is the most market-oriented and retail investor-focused o all the regulators, Sandeep Parekh managing partner Finsec Law Advisors said that-but it should not prevent it from going out and helping businesses and industry. The order regarding the extension was given by the Personnel Ministry. The extension of Tyagi’s term for eighteen months was approved by the Appointments Committee of the Cabinet headed by
Prime Minister Narendra Modi with effect from 1st September 2020 up to 28th February 2020. Under Tyagi, SEBI covered a lot of ground in terms of trading norms or easing norms for foreign investors.
