For the position of SEBI chairperson, FinMin is accepting applicants; Madhuri Puri Buch's term ends on February 28.

Applications are being accepted for the position of Chairman of the Securities and Exchange Board of India (SEBI) by the Indian government.

Applications for the position of Chairperson of the Securities and Exchange Board of India (SEBI), which oversees the markets, must be submitted by February 17th, according to the Ministry of Finance. Madhabi Puri Buch, the current SEBI Chairperson, will step down on February 28.

"The Securities and Exchange Board of India (SEBI), located in Mumbai, is seeking applications from qualified individuals to fill the position of Chairman. According to the notification released by the Department of Economic Affairs (Financial Markets Division), the appointment will be made for a maximum of five years from the date of assumption of charge or until the appointee reaches the age of sixty-five, whichever comes first.

The SEBI Chair may opt for a consolidated monthly income of Rs 5,62,500, which does not include a house or a car, or pay as is appropriate for a Secretary to the Government of India.

On March 2, 2022, Madhabi Buch took over as SEBI chairperson. He will serve in that capacity for three years, ending on February 28, 2025. She formerly worked at Sebi for five years, from April 2017 to March 2022, as a full-time member.

Money control exclusively revealed earlier in October 2024 that the government is reportedly in the midst of identifying a potential replacement for Madhabi Puri Buch, the chairwoman of the Securities Exchange Board of India (Sebi).

A SEBI chief typically serves a three-year term. Ajay Tyagi and UK Sinha, who were chairmen for five and six years, respectively, were an exception, though. From February 18, 2011, until March 1, 2017, Sinha presided over Sebi as its chairman; his successor, Tyagi, held the position from March 1, 2017, to February 28, 2022.

Claims

During her time there, Buch was accused of breaking the code of conduct and investing in offshore funds connected to the Adani Group, first by short-seller Hindenburg and then by the Congress party. Additionally, she was accused by certain SEBI workers of fostering a "toxic work environment," but that issue has now been settled.

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