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Government Opens Applications for SEBI Chairperson; Buch’s Tenure Ends

The Ministry of Finance has announced the opening for the position of Chairperson at the Securities and Exchange Board of India (SEBI), with applications due by February 17. The current SEBI Chairperson, Madhabi Puri Buch, will complete her tenure on February 28.
According to a notice from the Department of Economic Affairs (Financial Markets Division), the Government of India is seeking qualified candidates for the SEBI Chairperson role, based in Mumbai. The appointed candidate will serve for a maximum of five years from the date of assuming office or until reaching the age of 65, whichever comes first.
The SEBI Chairperson has the option to receive a salary equivalent to a Secretary to the Government of India or a consolidated pay of ₹5,62,500 per month, excluding housing and transportation benefits.
Madhabi Puri Buch took over as SEBI Chairperson on March 2, 2022, for a three-year term ending on February 28, 2025. Before this role, she served as a Whole-Time Member at SEBI from April 2017 to March 2022.
Reports from October 2024 indicated that the government had already initiated the search for Buch’s successor. The standard tenure for a SEBI chief is three years, but exceptions have occurred. UK Sinha and Ajay Tyagi held the position for six and five years, respectively—Sinha from February 18, 2011, to March 1, 2017, and Tyagi from March 1, 2017, to February 28, 2022.
Controversies
During her tenure, Buch faced multiple allegations—first from short-seller Hindenburg and later from the Congress party—regarding offshore investments tied to the Adani Group and alleged violations of the code of conduct. Additionally, some SEBI employees accused her of fostering a toxic work environment, although this issue has since been resolved.
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