He is the founder Chairperson of Excellence Enablers Private Limited, a niche Corporate Governance advisory firm and the Founder and Managing Trustee of Non Executive Directors in Conversation Trust (NEDICT).
After 6 months each as a Probationary Officer in Indian Bank and State Bank of India, he joined the IAS - 1971 batch - in the Indian state of Tripura, where he served in different developmental and regulatory positions. He was appointed Tripura's Chief Secretary in 1992.
In 2001, he was appointed the Chairman of UTI to rescue India's largest and oldest investment institution, which had collapsed. He was simultaneously given charge of IDBI, another of India's major financial institutions.
As Chairman of SEBI, he brought corporate governance practices to India's securities market. While at SEBI, he was elected Chairman of the Emerging Markets Committee of the International Organization of Securities Commissions (IOSCO), a position he held till he demitted office as Chairman, SEBI.
He chaired the Government of India constituted Committee for recommendations to scale up PE/VC investments in India and to streamline regulations thereto. He also chaired the Government of India constituted Taskforce for setting up Resolution Corporation of India. He was the Chairman of Ministry of Corporate Affairs Committee for Reforming the Regulatory Environment for doing Business in India and Chairman of Reserve Bank of India’s Committee on Customer Service in Banks. He was the founder Chairman of the Society and Board of Governors of the Indian Institute of Management Tiruchirappalli (IIMT).
He was appointed Chairman of IndiGo (InterGlobe Aviation) on 24 January 2019.[6] and stepped down on 3 May 2022. He was appointed as a Non-Executive Director on the Board on 16 July 2022.
