Ramesh Abhishek gets extension at FMC

Extension beyond 8 April or till merger of FMC with Sebi or until further orders or whichever is earliest

The appointments committee of Cabinet on Tuesday issued an order extending tenure of Forward Markets Commission’s Chairman Ramesh Abhishek by three months. The order says the extension will be till three months beyond April 8, or till merger of FMC with the Securities and Exchange Board of India, or until further orders, whichever is earliest.

The order didn’t specify reasons but the source said that the extension was found necessary as a regulator remaining headless was not advisable at a time when it was slated to merger with another regulator.