Economic Affairs Secretary Atanu Chakraborty is likely to take over as Chairman of the Securities and Exchange Board of India (SEBI), Mint reported.
Current SEBI chief Ajay Tyagi's term ends on March 1. He had been appointed as SEBI chairman in March 2017.
Chakraborty has emerged as a frontrunner for the post. Other strong candidates include Madhabi Puri Buch, a full-time SEBI member, and Corporate Affairs Secretary Injeti Srinivas, sources told the paper.
Tyagi’s file has also been forwarded to the government for a possible extension, the report added.
Moneycontrol could not independently verify the story.
The final decision on Tyagi’s successor will be taken by a two-member appointments committee of the cabinet (ACC) comprising Prime Minister Narendra Modi and Home Minister Amit Shah.
Chakraborty, who took over as the Economic Affairs Secretary in July last year, is a 1985 batch IAS officer from the Gujarat cadre.