New Delhi : Government has begun the search for a new Chairman of the capital markets regulator Sebi to succeed the incumbent U K Sinha, whose term is scheduled to come to an end on February 17, 2016.
Inviting applications, the Finance Ministry said in a notification that the Chairman would be appointed for a five-year period or up to the age of 65 years, whichever is earlier. The applications have been invited by October 7, 2015.
The Chairman would have an option to receive pay “as admissible to a Secretary to the Government of India, or a consolidated salary of Rs 4.5 lakh per month”.
Sinha, a 1976 batch IAS officer of Bihar cadre, assumed office as the Securities and Exchange Board of India (Sebi) Chairman on February 18, 2011 when the previous UPA government was in the power. As per his age, Sinha is eligible for a one-year extension. It could not be ascertained whether Sinha was offered an extension or not.
