Sebi revamps panel on alternative investment

Source: The Hitavada      Date: 07 Jul 2018 10:39:56



Markets regulator Sebi has reorganised the committee that advises it on matters pertaining to further development of the alternative investment and startup ecosystem in the country. The Alternative Investment Policy Advisory Committee is chaired by Infosys Founder N R Narayana Murthy, as per the latest update with the markets watchdog.

The regulator had constituted the committee in March 2015 with the mandate to prepare a new regulatory framework for alternative investments. So far, the panel has submitted three reports to Sebi. It had submitted its first, second and third set of recommendations in January 2016, November 2016 and January 2018, respectively.

Besides Murthy, expert panel consists of 22 members, including top executives of private equity firms, VC firms, Government representatives and officials of Sebi and RBI. Members of committee include The Carlyle Group India MD Devinjit Singh; TVS Capital Funds CMD Gopal Srinivasan; Kedaara Capital Advisors LLP Managing Partner Manish Kejriwal; and Indian Private Equity & Venture Capital Association President Rajat Tandon. Other members are: Gaja Capital Managing Partner Gopal Jain; Avendus Capital Alternate Strategies CEO Andrew Holland and SIDBI Deputy MD Ajay Kumar Kapur.

The committee is mandated to advise Sebi on issues related to further development of alternative investment and startup ecosystem in India. In addition, panel advises regulator on any hurdles that might hinder development of the alternative investment industry under its purview. Further, committee will suggest Sebi on issues which need to be taken up with other regulators for development of the alternative investment industry.