Gyanesh Kumar assumed the role of Chief Election Commissioner in February 2025 under the 2023 appointment law, with a statutory term extending until January 2029. Opposition parties including Congress and regional allies have intensified calls for his removal over the Special Intensive Revision of electoral rolls and related disputes, prompting protests, parliamentary resolutions, and Supreme Court petitions in recent weeks. Removal of a CEC, however, requires a formal parliamentary process with a high threshold that rests with the ruling coalition. Traders price the “no” outcome at 79.5% because no procedural steps toward early departure have advanced and the government continues to defend the commission’s autonomy. Scheduled assembly elections and ongoing litigation through year-end further reduce the likelihood of an abrupt exit by December 31.