Archive · 19 May 2025
Shikha Gupta Declines Sebi Executive Director Role
Imagine a company that makes sure the stock market is fair.
This company, called Sebi, wanted Shikha Gupta to be a top boss.
They offered her the job, and she said yes.
But then, for reasons we don't know, she changed her mind and said no.
This is unusual.
Some people thought it was strange because she used to work at a company where the previous Sebi boss's spouse worked.
This situation caused surprise, especially among existing Sebi staff.
Now, Sebi has to find someone else for the job.
Shikha Gupta declined the role of Executive Director at Sebi after initially accepting the offer.
Gupta was approved for the position during Madhabi Puri Buch's tenure as Sebi chairperson.
Gupta previously worked as a tax director at Hindustan Unilever.
The decision triggered discontent among some Sebi executives.
Sebi will likely restart the search process to fill the executive director position.
- Who
- Shikha Gupta, former tax director at Hindustan Unilever.
- What
- Shikha Gupta opted out of the Executive Director role at Sebi after being approved.
- When
- March 2024 (declined offer)
- Where
- Securities and Exchange Board of India (Sebi)
- Why
- Shikha Gupta declined the role after accepting the offer, a rare occurrence.
Sebi Regulations
Sebi Employee's Association
Internal vs External Candidates
Sebi Regulations
Sebi rules allow for up to three external candidates.
Sebi Employee's Association
Sebi employees association favours all candidates to be internal.
- Candidate
- Shikha Gupta
- Former Employer
- Hindustan Unilever
- Sebi Chairperson (Previous)
- Madhabi Puri Buch
- New Chairman
- Tuhin Kanta Pandey
- Current Executive Directors
- 10
- External Executive Directors
- 2