Sebi's Ajay Tyagi stands out for his balanced view as his term comes to end

Tyagi also had to struggle to preserve the autonomy of the market regulator

Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi, whose three-year tenure ends this week, will be remembered for his balanced approach.

Tyagi, who joined the Indian Administrative Service (IAS) in 1984, largely shied away from doing anything disruptive but at the same time didn’t hesitate to take action against large entities such as Reliance Industries, the National Stock Exchange (NSE), and PwC.

During his tenure, Sebi overhauled key regulations in areas such as corporate governance, foreign portfolio investors (FPIs), insider trading, mutual funds, and credit-rating agencies. Most of them largely saw smooth implementation.

Recently, when Tyagi was asked