The Finance Ministry has invited applications to fill up the post of Chairman in the Securities and Exchange Board of India (SEBI), the equities and commodities markets regulator.

The order inviting applications has been issued by the Financial markets division in the finance ministry’s Department of Economic Affairs.

The incumbent Chairman, Ajay Tyagi, will complete his extended term on February 28, 2022.

It may be recalled that the Appointments Committee of the Cabinet had in August 2020 approved extending Tyagi's term as Chairman of SEBI by 18 months from September 1, 2020, to February 28, 2022.

Initially, in 2017, Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was given a five-year term as SEBI chairman but was later cut down to three years. His term ended in February 2020, after which he was given a six-months extension up to August 31, 2020. Tyagi will complete five years as SEBI Chairman when his extended term ends on February 28, 2022.

Meanwhile, the latest DEA order seeking applications for the SEBI Chairman post specifies a five-year term (but not holding office beyond 65 years of age) and also that the concerned person will be eligible for reappointment.