Indian Revenue Service (IRS) officer, Sandip Pradhan, has been appointed by the government as a whole-time member of the Securities and Exchange Board of India (Sebi) for a period of three years.
“The government hereby appoints Sandip Pradhan, IRS (IT:1990), Director General of Income Tax (Investigation), Pune, as Whole Time Member of the Sebi, for a period of three years from the date of assumption of charge of the post or until further orders, whichever is earlier,” a gazette notification said.
Pradhan would be the second IRS officer serving as a whole-time member after batchmate Kamlesh Chandra Varshney, who has been with the capital markets regulator since September 2023.
He replaces Ashwani Bhatia, who demitted office after completion of his term as a whole-time member.
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Pradhan has served as an additional commissioner of Income Tax in Pune and as the Mumbai Income Tax commissioner, besides being Khelo India CEO, the director general of the Sports Authority of Gujarat for four years (2013-17) and director general, Sports Authority of India (SAI) till September 2024.
He then rejoined his parent department, the Central Board of Direct Taxes.
Apart from the chairman, Sebi can have four whole-time members appointed by the government. The chairman, too, is appointed by the government on the recommendation of the Financial Sector Regulatory Appointments Search Committee (FSRASC).
As per the procedure for the appointment of financial sector regulators and their members, the candidate is shortlisted and recommended for appointment by the FSRASC, headed by the Cabinet Secretary, to the Appointments Committee of the Cabinet.
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