ACC Reappoints Kamlesh Chandra Varshney as SEBI Whole-Time Member Until August 2029

The Appointments Committee of the Cabinet (ACC) has approved the extension and reappointment of Kamlesh Chandra Varshney as a Whole-Time Member (WTM) of the Securities and Exchange Board of India (SEBI).

According to an official order issued by the Department of Personnel and Training (DoPT), Varshney will continue in his role beyond the conclusion of his initial three-year term on September 19, 2026. The extension enables him to serve until he attains the statutory retirement age of 65 on August 4, 2029, or until further orders, whichever is earlier.

Background and Key Portfolios

A 1990-batch officer of the Indian Revenue Service (IRS), Varshney assumed charge as a SEBI Whole-Time Member in September 2023. Prior to his assignment at the market regulator, he served as Joint Secretary (Tax Policy and Legislation) in the Department of Revenue under the Ministry of Finance, where he played a pivotal role in formulating direct tax policies and anti-avoidance regulations.

At SEBI, Varshney oversees critical operational and regulatory wings that safeguard market integrity.

Key Departments Under His Purview:

• Corporate Finance Department (CFD): Manages primary market issuances, disclosure standards, and corporate governance compliance for listed entities.
• Corporation Finance Investigation Department (CFID): Leads inquiries into accounting frauds, fund diversions, and financial irregularities.
• Integrated Surveillance Department (ISD): Tracks real-time trading patterns across exchanges to detect insider trading, front-running, and price manipulation.
• Legal Affairs Department: Directs statutory enforcement, administrative proceedings, and regulatory litigation.

Implications for Market Oversight

Varshney's reappointment comes at a crucial juncture for India’s securities framework. In recent months, his office has spearheaded high-profile enforcement proceedings targeting unfair trading practices and market abuse. Notably, he has overseen regulatory action concerning trading irregularities during the closing auction session on domestic bourses.

The decision also ensures top-tier administrative stability at SEBI following the retirement of Whole-Time Member Amarjeet Singh earlier in September 2026. Under statutory guidelines, SEBI’s board can accommodate up to four whole-time members alongside the Chairperson.

For institutional and retail investors, retaining experienced leadership across SEBI's surveillance and enforcement wings reinforces regulatory vigilance, curtails market abuse, and strengthens long-term confidence in Indian market infrastructure.

Tags: SEBI Kamlesh Chandra Varshney Indian Capital Markets Department of Personnel and Training NSE BSE