Tuhin Kanta Pandey has assumed office as chairman of the Securities and Exchange Board of India (SEBI) in Mumbai just as the regulator faces heightened scrutiny.
Pandey, an Indian administrative service officer of the Odisha cadre from the 1987 batch, brings extensive experience in economic policy, finance and regulatory affairs. Before joining the SEBI, he served as union finance secretary, revenue secretary and secretary in the Department of Investment and Public Asset Management. His previous roles include secretary in the Department of Public Enterprises and the Department of Personnel and Training.
With more than three decades of experience, Pandey has played a crucial role in institutional reforms, policy development and financial governance. As he takes charge of SEBI, he faces the immediate challenge of restoring credibility and addressing concerns raised by recent controversies.
Pandey’s predecessor Madhabi Buch faced controversies during her term after the Hindenburg papers accused her and her husband of alleged regulatory lapses, fraud, and corruption. The case, filed by legal journalist Sapan Shrivastava, concerns the listing of Cals Refineries in 1994.
Finding sufficient grounds, the court directed the filing of an FIR under relevant laws. The SEBI has denied the allegations, noting that the named officials were not in their current roles at the time and intends to challenge the order legally.
During his career, Pandey held key positions in both the Union and Odisha state governments, and a tenure at the regional office of the United Nations Industrial Development Organisation (UNIDO).
He has been associated with the planning commission (now Niti Aayog), the cabinet secretariat and the ministry of commerce. In Odisha, he served as the administrative head of departments such as finance, health, general administration, commercial taxes and transport.
