Paving way to its idealization, the capital market regulator, Securities and Exchange Board of India (SEBI) has roped in Infosys founder NR Narayana Murthy to head 18-member panel committee to advise on policy matters for the new regulatory framework for startups and alternative investment funds (AIFs).
Earlier in the month, SEBI had considered to make changes in the rules on AIFs to match its pace with the rapidly evolving startup ecosystem in India. It was also planning to create a seven member panel committee for the same.
The Alternative Investment Policy Advisory Committee (AIPAC) includes representatives from the industry, private equity firms and startup organisations along with senior officials of SEBI, RBI and the Finance Ministry.
The other members of the panel committee are:
- Indian Private Equity and Venture Capital Association Chairman and KKR India CEO, Sanjay Nayar
- Indian Angel Network’s Saurabh Srivastava
- Piramal Group’s Ajay Piramal
- Carlyle Group’s Devinjit Singh
- TPG Growth India’s Manish Chokhani
- PwC India’s Gautam Mehra
- Malabar Investments’ Akshay Mansukhani
- Incube Ventures’ Mani Iyer
- Startup Village Fund’s Abid Hassan
- Ascent Capital Advisors’ KEC Rajakumar
- IDG Ventures India and iSPIRT Foundation’s Sudhir Sethi
- Religare Enterprises’ Sunil Godhwani
- TVS Capital Funds’ Gopal Srinivasan.
Besides, Sebi’s Executive Director Ananta Barua and its General Manager Barnali Mukherjee, RBI’s Executive Director NS Vishwanathan and Deputy Secretary in Ministry of Finance, Nikhil Varma would also be part of the panel.
The panel is expected to give recommendations to SEBI on issues related to the further development of the alternative investment and startup ecosystem in India. The group is expected to advise SEBI on any matters that might hinder the development of these ecosystems in the country.