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The interviews for four vacancies for the post of Executive Director at the SEBI will be held on August 11 and August 12, said sources.
Mr J. Ranganayakulu, Executive Director — Legal, has re-applied and is expected to retain his position. For the other three general vacancies, two are expected to be outsiders, in line with SEBI's quota for internal and external candidates.
Mr S. Ravindran, Chief General Manager, in charge of Mutual Funds, is tipped to takeover as SEBI's internal candidate for the post of ED.
It is gathered that the appointment of members is getting delayed as the Government is not keen on a five-year term for members, said confirmed sources. This could affect the career path of one appointee, Mr Rajeev Agrawal, a 1983-batch IRS Officer who has eight years of service left.
Mr Agrawal is now serving as CIT (Audit) at Kanpur in Uttar Pradesh on repatriation from Forward Markets Commission as Member.
The government had indicated that central government servants taking up the post of member, SEBI, were expected to resign from service before doing so.
He is believed to have requested for a five-year term and the competent authority looking into the appointment of members is afraid that it would set a precedent, and the government might have to extend the term of the SEBI chairman and other members from three to five years.
The other appointee, Mr S. Sridhar, is a retired Chairman of Central Bank of India.
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