Govt notifies Sinha’s extension as Sebi Chief by 2 years
17 Feb 2014 7:05 AM IST
Capital market regulator Sebi's chairman U K Sinha is set to begin a new term in office, as the government has notified a two-year extension to him.
Sinha, a former IAS officer who has previously also served as chief of UTI Mutual Fund, was appointed as Sebi chairman in February 2011 for three years and that tenure would end on Monday. With an aim to ensure continuity in top positions at major regulatory authorities, the government decided to extend his term by further two years.
The Finance Ministry said in the notification that it is extending the ‘appointment of U K Sinha, as Chairman of the Sebi with effect from the 18 February, 2014 for a period of two years or till the age of sixty five years or until further orders, whichever is earliest’. Sinha's current tenure has seen the capital market watchdog initiating various steps in areas of corporate governance, crackdown on fraudulent money pooling schemes and action against large corporates and safeguarding overall
investor interest.
Sinha, a former IAS officer who has previously also served as chief of UTI Mutual Fund, was appointed as Sebi chairman in February 2011 for three years and that tenure would end on Monday. With an aim to ensure continuity in top positions at major regulatory authorities, the government decided to extend his term by further two years.
The Finance Ministry said in the notification that it is extending the ‘appointment of U K Sinha, as Chairman of the Sebi with effect from the 18 February, 2014 for a period of two years or till the age of sixty five years or until further orders, whichever is earliest’. Sinha's current tenure has seen the capital market watchdog initiating various steps in areas of corporate governance, crackdown on fraudulent money pooling schemes and action against large corporates and safeguarding overall
investor interest.
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