SEBI reconstitutes advisory panel for alternative investment policy

Context

Recently, Securities and Exchange Board of India (SEBI) has reconstituted its alternative investment policy advisory committee.

About the panel

• The panel is mandated to advise Sebi on any hurdles that might hinder the development of the alternative investment industry and any other item relevant to the segment as well as the development of the startup ecosystem in India.
• The committee has been entrusted with the task of advising Sebi on any issues which need to be taken up with other regulators for the development of the alternative investment industry.

Members of the committee

• The committee is chaired by Infosys co-founder N R Narayana Murthy. 
• Apart from Murthy, the committee includes members from Sebi, Ministry of Finance, AIF players and industry associations.
• Gopal Srinivasan, chairman and managing director, TVS Capital Funds; Gopal Jain, co-founder and managing partner, Gaja Capital; Vipul Roongta, managing director and CEO, HDFC Capital Advisors; and Renuka Ramnath, chairperson, Indian Private Equity and Venture Capital Association (IVCA) are among the members of the panel, as per Sebi.
• The other members include Prashant Khemka, founder and partner at White Oak Capital Management; Gautam Mehra, partner at PwC; Subramaniam Krishnan, partner at Ernst & Young; Deepak Ranjan, deputy director, DEA, Ministry of Finance; Mahavir Lunawat, vice chairman, Association of Investment Bankers of India (AIBI); and Sujit Prasad, executive director at Sebi.

Securities and Exchange Board of India (SEBI)

• SEBI is the regulatory body for securities & commodity market in India. 
• It works under the ownership of the Ministry of Finance. 
• SEBI was established as a non-statutory body on April 12, 1988.
• It was given Statutory Powers & became an autonomous body on January 30, 1992 by the SEBI Act, 1992.