Work piles up at Sebi as 2 whole-time member posts continue to lie vacant

The Appointments Committee of the Cabinet (ACC) approved the appointment of Ashwani Bhatia as a WTM in March, however, his joining has been delayed.

Two whole-time member (WTM) positions at the Securities and Exchange Board of India (Sebi) continue to lie vacant, leading to a pile up of workload at the capital market regulator.

The Appointments Committee of the Cabinet (ACC) approved the appointment of Ashwani Bhatia, managing director of State Bank of India (SBI), as a WTM in March. However, his joining has been delayed due to procedural issues. Meanwhile, the government is yet to take a final call on the appointment of the fourth member.

The securities and commodities regulator has been forced to function with just two WTMs — SK Mohanty and Ananta