𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚 𝐀𝐩𝐩𝐨𝐢𝐧𝐭𝐬 𝐌𝐬. 𝐃𝐞𝐞𝐩𝐭𝐢 𝐆𝐚𝐮𝐫 𝐌𝐮𝐤𝐞𝐫𝐣𝐞𝐞 𝐚𝐬 𝐚 𝐍𝐞𝐰 𝐏𝐚𝐫𝐭-𝐓𝐢𝐦𝐞 𝐌𝐞𝐦𝐛𝐞𝐫 𝐭𝐨 𝐒𝐄𝐁𝐈

The Department Of Economic Affairs, Government Of India, Ministry of Finance has by way of gazette notification on September 03, 2024 nominated Ms. Deepti Gaur Mukerjee, Secretary of the Ministry Of Corporate Affairs, as a Member of the Securities and Exchange Board of India (SEBI), succeeding Dr. Manoj Govil, the former Secretary of the Ministry Of Corporate Affairs.

Following this appointment, the SEBI Board will be composed of individuals as outlined below. These appointments are made in accordance with the SEBI Act, 1992, and are governed by the SEBI (Terms and Conditions of Service of Chairman and Members) Rules, 1992, as notified by the Government of India (available at https://lnkd.in/dH7TfNRG):

1.       𝐌𝐬. 𝐌𝐚𝐝𝐡𝐚𝐛𝐢 𝐏𝐮𝐫𝐢 𝐁𝐮𝐜𝐡 – Chairperson (Section 4(1)(a))
2.       𝐌𝐫. 𝐀𝐬𝐡𝐰𝐚𝐧𝐢 𝐁𝐡𝐚𝐭𝐢𝐚 – Whole-Time Member (Section 4(1)(d))
3.       𝐌𝐫. 𝐀𝐧𝐚𝐧𝐭𝐡 𝐍𝐚𝐫𝐚𝐲𝐚𝐧 𝐆 – Whole-Time Member (Section 4(1)(d))
4.       𝐌𝐫. 𝐀𝐦𝐚𝐫𝐣𝐞𝐞𝐭 𝐒𝐢𝐧𝐠𝐡 – Whole-Time Member (Section 4(1)(d))
5.       𝐌𝐫. 𝐊𝐚𝐦𝐥𝐞𝐬𝐡 𝐂𝐡𝐚𝐧𝐝𝐫𝐚 𝐕𝐚𝐫𝐬𝐡𝐧𝐞𝐲 – Whole-Time Member (Section 4(1)(d))
6.       𝐌𝐫. 𝐀𝐣𝐚𝐲 𝐒𝐞𝐭𝐡, Secretary, Department Of Economic Affairs, Government Of India, Ministry of Finance – Part-Time Member (Section 4(1)(b))
7.       𝐌𝐬. 𝐃𝐞𝐞𝐩𝐭𝐢 𝐆𝐚𝐮𝐫 𝐌𝐮𝐤𝐞𝐫𝐣𝐞𝐞, Secretary, Ministry Of Corporate Affairs – Part-Time Member (Section 4(1)(b))
8.       𝐌𝐫. 𝐌. 𝐑𝐚𝐣𝐞𝐬𝐡𝐰𝐚𝐫 𝐑𝐚𝐨, Deputy Governor, Reserve Bank of India (RBI) – Part-Time Member (Section 4(1)(c))

Chapter II of the SEBI Act, 1992 addresses the management of SEBI, including the powers and term of office for the Chairperson and members, conditions for their removal, the conduct of SEBI Board meetings, restrictions on member participation under certain circumstances, the validity of board meetings despite vacancies, and the roles of SEBI’s officers and employees. The responsibilities and authorities within SEBI are further defined by the SEBI (Delegation of Statutory and Financial Powers) Order, 2019, as amended up to 2023 which is accessible at: https://lnkd.in/dA8H_hy2

Further, SEBI officers from the entry level to Executive Directors as well as secretarial staff are governed under SEBI (Employees’Service) Regulations, 2001 available at https://lnkd.in/dPEpy-Xq

The gazette notification of Ms. Deepti Gaur Mukerjee is enclosed herewith.

Readers are welcome to share their views with Regstreet Law Advisors on info@regstreetlaw.com.