The Securities and Exchange Board of India (SEBI) has appointed KVR Murty, who conceived and piloted the decriminalization of corporate laws, as a whole-time member. Murty previously served as Additional Controller General of Defence Accounts in the Ministry of Defence.
He has held key roles across national security and corporate law over a three-decade career, according to a SEBI press statement.
Apart from his tenure at the Ministry of Defence, he has served as principal integrated financial adviser to the Indian Air Force, financial adviser to DRDO, and as joint secretary in the Ministry of Corporate Affairs.
Murty has also been a part-time SEBI board member as a government nominee and served on the National Financial Reporting Authority (NFRA), in addition to being associated with various councils, including the Institute of Chartered Accountants of India (ICAI).
He has heard, adjudicated, and issued orders on matters related to schemes of arrangement, and mergers and amalgamations of government companies, the statement added.
The decriminalization of corporate laws, an effort he led, "became the template for the Jan Vishwas Bill taken up by the Government of India to provide greater ease of doing business and ease of living," the statement said.
Other whole-time members at SEBI are Sandip Pradhan, Kamlesh Varshney, and Amarjeet Singh. Pradhan oversees the alternative investment funds and foreign portfolio investors departments, as well as the information technology department.
Varshney handles the integrated surveillance department, legal affairs department, and the special enforcement cell.
Singh oversees the investment management department, office of international affairs, and the investigations department. All three also oversee the market intermediaries regulation and supervision department.
Murty's mandate has not yet been announced.
