In addition, the regulator has added Rajiv Dhar, who was appointed as Managing Director (MD) and CEO of National Investment & Infrastructure Fund (NIIF) in May this year, in the committee.
At the same time, Prashant Khemka, founder and partner at White Oak Capital Management, and Subramaniam Krishnan, partner at Ernst & Young, among others have been dropped from the list.
Besides, Gopal Srinivasan, chairman and managing director of TVS Capital Funds; Gopal Jain, co-founder and managing partner at Gaja Capital; Vipul Roongta, managing director and CEO of HDFC Capital Advisors; Gautam Mehra, Partner at PwC, and Mahavir Lunawat, Director, Association of Investment Bankers of India (AIBI), continue to be the members of the committee.
The panel is mandated to advise Sebi on any hurdles that might hinder the development of the alternative investment industry and any other item relevant to the segment as well as development of the startup ecosystem in India.
Also, the committee has been entrusted with the task of advising Sebi on any issues which need to be taken up with other regulators for development of the alternative investment industry.
Sebi has reconstituted its alternative investment policy advisory committee, which advises the capital markets regulator on a range of issues that impact further development of the AIF space.
The committee has now 25 members, as per latest update with the Securities and Exchange Board of India (Sebi).
The panel, which was constituted by Sebi in March 2015, had 20 members when it was last rejigged by the regulator in February 2022.
Till now, the committee has submitted three reports on the AIF (Alternative Investment Fund) industry.
The committee is chaired by Infosys co-founder N R Narayana Murthy.
Apart from Murthy, the committee includes members from Sebi, Ministry of Finance, AIF players and industry associations.
Sebi has replaced Renuka Ramnath, who was chairperson of Indian Private Equity and Venture Capital Association (IVCA), from the list with the association's new chairman Karthik Reddy.