Santosh Kumar Mohanty, the incumbent whole time member (WTM) of SEBI, is likely to get another extension, sources told BusinessLine . Mohanty has been working with SEBI for over six years and his current term ends in June.

Also, the term of Ananta Barua, another WTM, will end in August. SEBI had called for new applications for the WTM post but the response from outside candidates has been tepid, the sources said.

Mohanty, a former income tax official, had joined SEBI from the erstwhile commodity market regulator FMC. In FMC, Mohanty oversaw the probe into the NSEL scam under the tutelage of the then commodity market regulator Ramesh Abhishek. In SEBI, he was first made an executive director and then became the WTM. For most part of his tenure at SEBI, Mohanty looked after market regulations and the commodity derivatives department. However, in a change of portfolio a few months ago, the market regulations and commodity derivatives department were handed over to another WTM G Mahalingam. Two other WTMs whose terms end this year include Mahalingam and Madhabi Puri Buch. Mahalingam was appointed as WTM for a period of five years while Buch came in 2017 for three years. Last year, Buch was given a one year extension. Two executive directors in SEBI are keen to apply for WTM’s post in the coming months, said the sources.

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