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SEBI has indefinitely postponed interview for the post of Executive Director — Legal, due to lack of external candidates, sources told BusinessLine . There are a few suitors for the post internally but the regulator got only one application from outside. The interviews were to be held on November 22.
ED — Legal position in SEBI was created in the last two-three years. Earlier, there was no such position as SEBI mainly worked with three EDs who were not categorised into any particular stream. Officials who moved to SEBI after the merger of commodity regulator FMC were appointed as EDs. There are seven officials currently holding the post of ED.
The dilemma within the organisation now is that some seniors in SEBI are insisting on restricting the ED — Legal post to internal candidates who are working only as legal professionals there.
The ED-legal position in SEBI fell vacant after incumbet Ananta Barua was appointed as a whole-time member recently.
SEBI did not reply to an email query on the matter.
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