Sofa so good

When U K Sinha took charge as chairman of the Securities and Exchange Board of India (Sebi), his entry coincided with a one-time bonus for Sebi employees that could be used to splurge on household items such as furniture. Some employees chose to see this as an informal joining bonus from the new chairman, although the two events were a coincidence. All the same, when a recent news report suggested that Sinha may be granted an extension when his term ends next month, hopes rose again. But a repeat performance is unlikely, mainly because the expected extension is for a short period, so those hoping for new sofa sets may have to wait a little longer.