Row over appointing regulators

A recent public interest litigation over the procedures followed in the appointment of the chairman of the Securities and Exchange Board of India (Sebi), U K Sinha, raises a broad range of public issues relating to the manner in which the government goes about selecting regulators for various markets and industries. The government has now admitted that until at least 2008, it did not have a fixed procedure for selecting who would head the capital markets regulator. In 2008, a search committee was appointed to find the next Sebi chairman. 

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