The government is likely to ask C B Bhave to continue as SEBI chairman. Sources said the Prime Minister's Office recently asked the Cabinet Secretariat why Bhave's term should not be extended. THE government is likely to ask C B Bhave to continue as the capital market regulator. Bhave's term expires in February 2011 and a search committee was set up in September -almost six months in advance -to find the next chairman for the Securities and Exchange Board of India (SEBI). A meeting of the search committee that was scheduled to meet on Friday to interview about a dozen shortlisted candidates was cancelled just a day before. A new date for the meeting is yet to be finalised, the sources said. When asked if the government asked him to continue, Bhave refused to comment.
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