The Career and Accomplishments of Pandey
An important turning point in Pandey’s career has been reached with his appointment. Prior to this, he was the Secretary of the Department of Investment and Public Asset Management (DIPAM), where he was instrumental in the listing of Life Insurance Corporation of India (LIC) and the successful sale of Air India. In advance of the Union Budget 2025, Pandey was moved to the role of Revenue Secretary earlier this year.
The Tenure of Madhabi Puri Buch Ends
On February 28, 2025, Madhabi Puri Buch, who became SEBI Chairperson in March 2022, will finish her three-year term. She was the first person from the private sector and the first woman to occupy the role. Both successes and controversies characterized Buch’s term in office. She is recognized with leading SEBI through a pivotal time, but during her term, there were also claims of violations, including from the Congress party and short-seller Hindenburg. Although the issue has been handled, several SEBI employees have accused her of creating a poisonous work environment.
With Pandey’s appointment, Buch’s term ends without an extension.
Pandey’s appointment puts a stop to rumors that Buch might get an extension. Buch would resign after her first three years as SEBI chair, in contrast to past chairpersons UK Sinha and Ajay Tyagi, who held their positions for longer periods of time.
