Stocks

SEBI makes internal reshuffle of portfolios at ED level

PALAK SHAH Mumbai | Updated on October 26, 2021

The regulator’s chairman Ajay Tyagi's term too comes to an end in March next year.

Market regulator SEBI has made some internal changes. Nagendraa Parakh, the executive director, will now be handling the investigations department that Anand Baiwar earlier handled. S Ravindran has been given the corporate finance department, which Amarjeet Singh earlier headed.

Parakh had crossed over from the erstwhile commodity market regulator FMC, a whole-time member (WTM). He is in the race to become the next WTM as there is a vacancy in SEBI. SK Mohanty, a junior to Parakh in FMC, has been a WTM in SEBI for the past few years. Apart from Parakh, Ravindran and Singh too are in the race for the WTM's post.

Just a few days ago, Madhabi Puri Buch, SEBI WTM, retired as her term ended. Another WTM G Mahalingam's term too will end shortly.

SEBI chairman Ajay Tyagi's term too comes to an end in March next year, and he is likely to try for an extension, sources said.

Currently, Singh has been given charge of departments including Market Regulations, Economic and Policy Analysis and Debt and Hybrid Securities. Baiwar will be handling the Market Intermediaries and Regulation, Supervision and Recovery and Refunds departments.

Sujit Prasad, ED, has been given collective investment schemes and investment management departments. V Sundaresan will look after the integrated surveillance and commodity derivatives department. Legal Affairs and Enforcement departments have been given to Babita Rayudu. GP Garg will look after the office of investor assistance and education, information technology and general services.

Published on October 26, 2021

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