C B Bhave leads race for SEBI Chairman
C B Bhave, chairman and managing director of National Securities Depository Ltd (NSDL has emerged frontrunner to become SEBI chairman . After being in-charge of the secondary market department as one of the two senior EDs, Bhave moved to the primary market department in 1995. He gave up the SEBI job in July 1996 and has been NSDL’s managing director since its inception in July 1996.
The government has zeroed in on Bhave’s name as the successor to M Damodaran. Bhave. Damodaran’s term is due to end next week
The search panel headed by Cabinet Secretary K M Chandrasekhar had forwarded three more names to the government.
They were Jaimini Bhagwati, additional secretary, economic relations, ministry of external affairs; U K Sinha, Chairman and Managing Director of UTI Asset Management Co. Ltd, and MBN Rao, Chairman and Managing Director of Canara Bank.
The panel had also said current Chairman M Damodaran can be eligible for reappointment.