Appointment of SEBI Chairman: Ajay Tyagi named to serve an initial term upon assumption, subject to further government orders. The Central Government notifies the appointment of Shri Ajay Tyagi, IAS, as Chairman of Securities and Exchange Board of India by formal notification dated 17 February 2017, effective from the date he assumes charge; the appointment carries an initial fixed term of three years measured from assumption of charge and is subject to earlier governmental orders, made in compliance with the statutory terms and conditions of service for the office.