Nearly two months after the position of an executive director fell vacant at the Sebi, the regulator has finally zeroed in on a finance ministry official to fill up the slot.
According to two persons familiar with the development, the capital market watchdog intends to appoint Gyan Bhushan as an ED and has written to the ministry of finance to get the required necessary clearances. Incidentally, Bhushan, a member of the Indian Economic Service, has been on deputation with Sebi for the last one year.
?Since Gyan Bhushan is on deputation, there is a protocol to be followed for his appointment as an executive director. Sebi has already written to the finance ministry and the formal announcement will be made once the go-ahead is received,? said a person familiar.
Interviews for the ED?s post were conducted last week, with a total of 10 candidates in the fray. However, Bhushan and P K Bindlish ? also a Sebi CGM ? were believed to be the front-runners.