Sheriff quits to join SEBI

The sheriff of Bombay, Mr. S S Nadkarni resigned from his post after having been appointed as Chairman of SEBI. The Decision follow a directive from the Union law ministry which felt that Mr Nadkarni's continuance as sheriff would conflict with his role as SEBI chairman. The latter office is a government of Indian posting. No serving government bureaucrat has ever been sheriff in the 322-year history of what is largely an honorary, ceremonial post.