Madhabi Puri Buch appointed as SEBI Chairman

D R Mehta, Ajay Tyagi, Madhabi Puri Buch
D R Mehta. Sinha was the Chairman of SEBI, before Tyagi took charge as Chairman of SEBI, Mr. Mehta was given an extension for 3years. As per the procedure for the appointment of Regulators, the candidates for this position are shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by Cabinet Secretary. They are interviewed by the panel comprising the Economic Affairs Secretary and three external members  having domain knowledge and their recommendation is sent to the Appointments Committee of Cabinet headed by the Prime Minister. As per the SEBI Act, SEBI Chairman is appointed for a maximum period of five years or till 65 years, whichever is earlier.

 Shree Ajay Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as SEBI’s Chairman on March 1, 2017, for a period of three years. Subsequently, he was given a six-month extension and later in August 2020, his tenure was extended by another 18 months. 

Key focus areas for SEBI are: Improve in-house investigative agencies in insider trading, and securities fraud actions. Building investor confidence and strengthening SEBI’s ongoing efforts to deepen the Corporate Bond Market in India by encouraging retail participation, and removing regulatory arbitrage.

Madhabi Puri Buch was a graduate of St Stephen’s College, holds an MBA from the Indian Institute of Management, Ahmedabad. She was previously, a Consultant to the New Development Bank in Shanghai, China. She was the Head of Business Development at Greater Pacific Capital, Singapore from 2011 to 2013, and a Non-Executive Director for Idea Cellular from 2011 to 2017. She had a long term/shift in ICICI Group and served as the Managing Director and Chief Executive Officer at ICICI Securities Limited and also as Executive Director on the Board of ICICI Bank.
On 28th February, The Appointments Committee of Cabinet approved Madhabi Puri Buch’s appointment for an initial period of three years from March 1st 2022, sources said. A formal order in this regard would be issued shortly, they added.
She has also served as a Whole-Time Member of Securities and Exchange Board of India (SEBI). She is the first woman to head the Capital Market Regulatory Body and a First person from the Private sector.  She has replaced Ajay Tyagi, whose five year term has come to an end. 
Multiple Non-Executive Director roles were held by Madhabi Puri Buch, including Zensar Technologies, Innoven Capital, and Max Healthcare as well as an Independent Director of Indian School of Development Management (ISDM). 

Madhabi Puri Buch has decades of experience and knowledge on the debt market/ financial market. As she was a part of the Mutual Fund Advisory Committee – we can expect more quality, practical and data driven decision-making. She’s a “Bold Decision Maker,” said by one Securities Lawyer. 

Madhabi Puri Buch appointed as SEBI Chairman
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