Former Sebi member Sahoo joins CCI

A former member of the Securities and Exchange of India (Sebi), M S Sahoo, has become a member of the Competition Commission of India (CCI).

A senior official at CCI confirmed the development but declined to comment further.

Sahoo, who has handled big corporate cases in Sebi, will come handy as the trust watchdog faces some of its major orders being challenged in courts and appellate bodies.

The assignment for Sahoo comes after an eventful career with experience in both regulatory organisations and government in varied functional areas such as reforms, policy, regulations, research and analysis.

He was most recently involved in the panel that prepared reports on global deposit receipts and external commercial borrowings and was secretary of The Institute of Company Secretaries of India.

As a whole-time member of Sebi during 2008-11, he was part of one of the eventful terms at the regulator, which had to deal with significant events such as the collapse of Lehman Brothers and the Satyam Computer scandal.

In earlier roles, the Indian Economic Service officer served as director and joint secretary in the ministry of finance. He also served as chief general manager with Sebi and as economic advisor with National Stock Exchange.