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May 25, 2001
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Money > Business Headlines > Report May 25, 2001 |
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Sebi fills two senior-level vacanciesBS Markets Bureau Securities & Exchange Board of India on Thursday kicked off the process of filling in the senior-level vacancies by appointing the Reserve Bank of India's chief general manager, in charge of inspection (Bombay region) in the department of banking operations and development, R M Joshi. Sebi officials said that Joshi's portfolio has not been decided yet. A former RBI executive director V Rangarajan has been appointed officer on special duty. He will be Sebi's pointman for co-ordinating with the Joint Parliamentary Committee. Sources said the crucial investigation and surveillance portfolio, falling vacant after L K Singhvi called it a day in Sebi, is expected to go to a deputee from the revenue services or enforcement directorate or someone having expertise in handling economic offences. The capital market watchdog is looking at all options for filling in the slots. Meanwhile, with reference to the JPC questioning Sebi on the delay in issuing orders to BPL, Videocon and Sterlite in 1998 payments crisis case, the securities regulator is understood to have taken the stance that the three-stage investigation culminating in dispute over whether the companies should be allowed to cross examine witnesses led to the delay. The actual investigations were done by October 1999 but the dispute and seeking of legal opinion led to the delay in issuing orders. Powered by YOU MAY ALSO WANT TO READ:
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