Govt seeks applications for position of Sebi Whole-Time Director

Mumbai: The Centre on Thursday invited applications to fill up the position of a whole-time director at the Securities and Exchange Board of India (Sebi).

Ananth Narayan, who passed the Jane Street order, completes his three-year term next month.

The department of economic affairs of the finance ministry said the appointment will be for five years or until the incumbent turns 65. The last date to submit applications is October 6. Narayan joined Sebi on October 10, 2022. He was from the private sector to hold the position.


During his tenure, he has passed orders against industrialist Anil Ambani, barring him from the securities market for five years in a fund diversion case related to Reliance Home Finance.

On the policy front, he has brought changes in the derivatives market and rules governing foreign portfolio investors and alternative investment funds.

In May, Sebi whole-time member Ashwani Bhatia completed his three-year term. The government is yet to fill up that vacancy. Although it had invited applications from interested candidates, the interviews are yet to be conducted, sources said.

The government has received over 180 applications from interested candidates. Several Indian Revenue Services (IRS) officers have applied this time for the whole-time member's position, sources said.