Sebi, staffers at odds again over external executive director appointment

Market regulator starts process to hire two candidates on deputation

Securities and Exchange Board of India (Sebi) staffers have expressed their displeasure with the market regulator for considering external candidates for the post of executive director (ED).

The Sebi Employee Association (SEA) sent a letter, dated June 26, to chairman Ajay Tyagi saying “external candidates may be considered only when no suitable internal candidates are available”. On this very day, Sebi had put out an advertisement inviting applications for recruitment of two EDs on contractual or deputation basis for a three-year period and asked candidates to apply by July 17.  

There are eight EDs at Sebi, of which the contracts of two