Sebi rejigs advisory committee on alternative investment policy

Sebi has reconstituted its alternative investment policy advisory committee, which advises the capital markets regulator on a range of issues that impact further development of the AIF space.

The committee has now 20 members, as per an update by the Securities and Exchange Board of India (Sebi).

The panel, which was constituted by Sebi in March 2015, earlier had 22 members. Till now, the committee has submitted three reports on the AIF (Alternative Investment Fund) industry.

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.

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 development of the startup ecosystem in India.

Also, the committee has been entrusted with the task of advising Sebi on any issues which need to be taken up with other regulators for development of the alternative investment industry.