The Securities and Exchange Board of India on Thursday announced the setting up of a seven-member committee headed by Prof S Sadagopan, director, International Institute Information Technology, Bangalore, to suggest steps for implementing a central database of stock market participants.
Formation of the new committee is aimed at reviving the Mapin (unique identification number for market participants and investors), which was suspended on July 1, 2005, following a recommendation by a panel headed by Jagdish Capoor, former deputy governor of Reserve Bank of India.
The other members of the implementation committee, under the Sebi (Central Database of Market Participants) Regulations, 2003), are Prof C Sivakumar, head of department of computer science & engineering, Sunil Chandramani, partner and national director (risk & business solutions) of Ernst & Young, Sanjay Pandey, founder, iSec Services, A Rajan, general manager, Sebi, Ananta Barua, joint legal advisor, Sebi, and VS Sundaresan, general manager, Sebi.
The National Securities Depository Ltd (NSDL), country's premier depository, was the designated service provider for creating and maintaining the Mapin database.
It is not known whether NSDL will be roped in again as the nodal agency for the central database project. Sources said that all issues will be looked at by the implementation committee.
