Appointment of SEBI chief under Supreme Court's scanner

Written by: Pti
Subscribe to Oneindia News
New Delhi, Sept 26: The appointment of UK Sinha as Chairman of Securities and Exchange Board of India (SEBI) came under the judicial scanner on Wednesday with the Supreme Court asking the government to respond to a plea alleging various irregularities in his appointment.

A bench headed by Justice SS Nijjar issued notice to the Centre and the SEBI chairman, directing them to file their replies within four weeks on alleged irregularities in Sinha's appointment.

The bench also impleaded Omita Paul, secretary to President Pranab Mukherjee. Paul was the advisor to Mukherjee when he was finance minister and the decision to appoint Sinha as SEBI chairman was taken by the government.

The bench impleaded her after it was alleged that she had bent rules to facilitate Sinha's appointment as SEBI chairman by bypassing other candidates who had applied for the post.

The bench, however, refused to issue notice to the Centre on plea for CBI inquiry into appointment of Sinha.

The court passed the order on a PIL filed by one Arun Kumar Aggarwal, seeking to quash Sinha's appointment.


Please Wait while comments are loading...