Two of its key whole-time members have been hearing very selective matters, as less than two months remain before their respective terms end.
Sebi whole-time members M S Sahoo and K M Abraham will both retire in July. While Sahoo's three-year tenure will end on July 13, Abraham will retire on July 21.
According to a person familiar with the developments, they are 'going slow' in hearing most ongoing matters as they will not be in a position to pass the final orders before they retire in July.
"They have practically stopped hearing fresh matters unless unavoidable," he said. "Even if they hear the matter now, it will be difficult for them to pass an order, which would look unprofessional.
"The affected party will have to come again and present the case before the new members who join office in July."
Sahoo and Abraham, also share between them the departments critical to any regulatory probe. Sahoo, who resigned from the Indian Administrative Service before joining Sebi as a whole-time member in 2008, is in-charge
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