Tuhin Kanta Pandey, who oversaw Air India sale, To Be Sebi Chief

Pandey, the senior-most officer in the finance ministry, will succeed Madhabi Puri Buch, whose three-year term closes today.  

Pandey’s term as SEBI chairman will be for three years, though earlier the government had indicated that the new chief’s term would be for five years.

Pandey, as Revenue Secretary, not only played a key role in announcing massive income tax benefits for the middle class in this year’s Union Budget but was also involved in carving out the new Income Tax Bill which is eventually replace the Income Tax Act of 1961.

Besides, Pandey, who had also served as Secertary, Department of Investment and Public Asset Management (DIPAM) oversaw the sale of the then ailing Air India to the Tata Group.

The 1987 IAS officer, played active role in the privatisation process of the IDBI Bank.

He will take over as Sebi chairman at a time when Indian stock market is going through some pressure amid rising geo-economic risks with increase in foreign capital outflows.