New Delhi: The government on Thursday appointed Indian Revenue Service officer Sandip Pradhan as a whole-time member of the Securities and Exchange Board of India (Sebi) for a period of three years.The government hereby appoints Sandip Pradhan, IRS (IT:1990), Director General of Income Tax (Investigation), Pune, as Whole Time Member of the Sebi, for a period of three years from the date of assumption of charge of the post or until further orders, whichever is earlier, a gazette notification said.
Pradhan replaces Ashwani Bhatia, who demitted office after completion of his term as a whole-time member.He would be the second IRS officer serving as a whole-time member, as his batchmate Kamlesh Chandra Varshney has been with the capital markets regulator since September 2023.Apart from the Chairman, Sebi can have four whole-time members appointed by the government.
Pradhan rejoined his parent department, the Central Board of Direct Taxes, after serving as Director General, Sports Authority of India (SAI) till September 2024. He held that position for a little over five years.Before his appointment at the SAI, Pradhan had worked as the director general of the Sports Authority of Gujarat for four years (2013-17). He has also earlier served as Khelo India CEO.
He has served as an additional commissioner of Income Tax in Pune and as the Mumbai Income Tax commissioner.The government appoints the Sebi chairperson and its whole-time members on the recommendation of the Financial Sector Regulatory Appointments Search Committee (FSRASC).As per the procedure for the appointment of financial sector regulators and their members, the candidate is shortlisted and recommended for appointment by the FSRASC, headed by the Cabinet Secretary, to the Appointments Committee of the Cabinet.
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