SEBI Chairman Ajay Tyagi's term extended by 18 months

The Appointments Committee of the Cabinet (ACC) has approved an extension of Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi's term of appointment by 18 months. The current SEBI Chairman's term was due to end on August 31, 2020.

A 1984-batch Indian Administrative Services (IA) officer of the Himachal Pradesh cadre, Tyagi will now hold the position until February 28, 2020.

The Centre said in a notification, "The Appointments Committee of the Cabinet has approved the extension of term of appointment of Shri Ajay Tyagi, IAS (HP:1984) (Retd.) as Chairman, Securities & Exchange Board of India (SEBI) for a further period of 18 months w.e.f. 01.09.2020 upto 28.02.2022 or until further orders, whichever is earlier."

The Centre had earlier this year granted a six-month extension to Tyagi, ahead of the expiry of his three-year tenure on March 1, 2020.