Government on Wednesday extended the term of Ajay Tyagi as the Chairman of the Securities and Exchange Board of India (SEBI) by 18 months till February 2022.

Tyagi’s term was due to end on August 31, after his tenure was extended by six months in February.

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“The Appointments Committee of the Cabinet has approved the extension of term of appointment of Ajay Tyagi, as Chairman, Securities & Exchange Board of India for a further period of 18 months w.e.f 01.09.2020 upto 28.02.2022 of until further orders, whichever is earlier,” said a notification from the Department of Personnel & Training on Wednesday.

Appointments Committee of the Cabinet approved extending Tyagi’s term as chairman of Securities and Exchange Board of India for a further period of 18 months with effect from 1 September to 28 February, 2022.

Tyagi was appointed chairman of the market regulator on 10 February, 2017, replacing U K Sinha, and took charge of the chairman office on 1 March, 2017.

Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, took charge as the chief of the market regulator in 2017.