Mumbai: Transparent working ways and consultative approach without "regulatory capture" were among the achievements listed out by Sebi chairman Ajay Tyagi as he described his current three-year tenure as "quite a good experience". Tyagi, whose current term ends later this month, however, kept everyone guessing on the question of an extension or if he has re-applied for the post. "It has been quite a good experience.
Me and my team believed in a consultative approach and worked in a very transparent manner.
We did not have any regulatory capture we worked cautiously," Tyagi said on Monday in response to a query about his time at the helm. He said the nearly three-decade old Sebi is a very "vibrant organisation" and acknowledged that in a changing environment that it faces, there will always be challenges and work to be done. Tyagi was very reluctant to share his unfinished agenda but did mention a greater focus on enforcement of the regulations as among the things Sebi should be focusing on. When asked if he needs to re-apply for the post following the advertisement issued by the government last month, he declined to comment. Tyagi was speaking to reporters at the customary interaction with journalists after the board meet of Sebi. It would be the last such interaction for Tyagi if the government opts for a new candidate as Sebi chief. On whether Sebi has factored in a surplus to be transferred to the government in financial year 2019-20 as per Budget announcement, Tyagi replied in the negative. Without divulging the reasons, he confirmed a suggestion on there being no notification being issued by the government for the money. If Sebi pays surplus funds, then it would be the second regulator after Reserve Bank of India to transfer money to the government. The central bank had transferred an excess of Rs 50,000 crore to the government.