Madhabi Puri Buch, the whole-time member of SEBI, is among the front runners for the post of SEBI chairperson, sources close to the developments told BusinessLine . If selected, she would be the first chairwomen SEBI will have in over 25 years after inception.

Buch has not applied for the post, but the Cabinet Committee on Appointments led by Rajiv Gauba, may still call her for an interview along with a few others who have not applied, sources said. Incumbent SEBI chairman Ajay Tyagi retires on February 28 after a three-year stint, and is also eligible for re-appointment.

Other candidates

Corporate Affairs Secretary Injeti Srinivas, Economic Affairs Secretary Atanu Chakraborty and Finance and Banking Secretary Rajiv Kumar, too, are in the running. All three senior bureaucrats are near retirement. It not clear if all the three have applied, but they will be called for an interview, sources said.

Few former IAS officers of 1982 batch who are also in the race have applied, sources said. It is also likely that two non-bureaucrats will be short-listed for an interview, a source said.

February 10 was the last date for application for the post of SEBI chairman. Nearly two dozen applications have been received by the government. As per the procedure, the selection committee is allowed to call a candidate of their choice for interviews even if they have not applied. The final call on the appointment rests with the Prime Minister’s Office. Candidates aged between 50-65 years can apply.