14 August 2008

SEBI gets long awaited legal Executive Director - if wishes were horses

After long period of keeping the post vacant - the Securities and Exchange Board of India has filled the slot for an Executive Director. Mr. J Ranganayakulu, former Legal Adviser (one rank below Executive Director) in SEBI will assume the charge with immediate effect. Mr. Ranganayakulu, who richly deserves the post, made his name in the enforcement department, where he was known for his dedication, integrity and humility. He has defended and argued dozens of cases before the appellate tribunal, SAT, including several classic cases which are reported. Good bodings again.

See Press Release - though it makes a mistake - there is no 'Legal' department in SEBI. There are 'Legal Affairs' and 'Enforcement' departments, both of which he will head as Executive Director.

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