New Delhi, Jan 27 (PTI) With the government initiating the process to appoint a new SEBI chief, the Congress on Monday said it hopes the new chairperson will “protect the interests of crores of middle-class investors” and have the courage to deal with “revelations” against the Adani Group without fear.
Congress general secretary (communications) Jairam Ramesh said the government inviting applications for the new Securities and Exchange Board of India (SEBI) chairperson vindicates the Congress’s sustained campaign that highlighted “how severely compromised” the present SEBI chief has been.
In a post on X, Ramesh said, “The INC hopes that the new chairperson will protect the interests of crores of middle-class investors in the capital market, summon the courage to stand up to the Modani enterprise, and deal with all revelations of the transactions of the Adani Group without fear or favour.”
The government on Monday initiated the process to find a successor for market regulator SEBI chief Madhabi Puri Buch, who was involved in an alleged conflict of interest row.
The three-year term of Buch as SEBI chairperson ends on February 28. Buch turned 60 this month.
The Department of Economic Affairs under the Finance Ministry said the appointment will be for five years or till the candidate attains 65 years of age. The last date to file applications is February 17.
“The chairman should be a person who does not and will not have any such financial or other interests that are likely to affect prejudicially his function as the chairman,” the advertisement said.
A similar clause was there last time as well when the government invited applications for SEBI chief in October 2021.
