Lok Sabha Question No. 2136 (UNSTARRED), answered on 2021-03-08
Subject: Securities and Exchange Board of India
Ministry: FINANCE
Asked by: Gopal Chinayya Shetty

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## LOK SABHA UNSTARRED QUESTION NO. 2136

## TO BE ANSWERED ON MONDAY, MARCH 08, 2021/PHALGUNA 17, 1942 (SAKA)

## SECURITIES AND EXCHANGE BOARD OF INDIA

## 2136. SHRI GOPAL CHINNAYA SHETTY:

Will the Minister of FINANCE be pleased to state:

(a) the details of powers and functions of the Securities and Exchange Board of India (SEBI);

(b) whether it is a fact that there is no female director in the Board of Directors of SEBI;

(c) if so, the time by which the Government proposes to appoint a female Director in the Board of Directors of SEBI;

- (d) the names of the full-time and part-time directors of SEBI; and

(e) the total number of members of SEBI along with the names of independent Directors of SEBI?

## ANSWER

## MINISTER OF STATE IN MINISTRY OF FINANCE (ANURAG SINGH THAKUR)

(a) The  powers  and  functions  of  Securities  and  Exchange  Board  of  India (SEBI) flow from (i) Chapter IV of the Securities and Exchange Board of India Act,  1992  (SEBI  Act),  (ii)  Securities  Contract  (Regulation)  Act,  1956,  (iii) Depositories  Act,  1996  and  (iv)  Section  24  of  the  Companies  Act,  2013,  which include, among others, the following:

(i) Protecting the interests of investors in securities;

(ii) Promoting the development of securities market;

(iii) Regulating the business in stock exchanges and any other securities markets;

(iv)  Registering  and  regulating  working  of  stock  brokers,  sub-brokers,  share transfer agents, intermediaries etc.;

(v) Conducting inquiries and audits of stock exchanges, mutual funds, intermediaries and self-regulatory organisations in securities market;

- (vi) Prohibiting fraudulent and unfair trade practices relating to securities market and insider trading and regulating substantial acquisition of shares and takeovers of companies;
- (vii)  Promoting  investors  education  and  training  of  intermediaries  of  securities market, etc.

(b) & (c) The Board comprises a Chairman, two members from amongst the officials  of  the  Ministry  of  the  Central  Government  dealing  with  Finance  and administration of the Companies Act, 1956, one member from the Reserve Bank, and five other members of whom at least three shall be the Whole-Time Members. Currently, there is one female Whole-Time Member of the Board.

(d) & (e) The following are the Members of the Board of SEBI:

|   Sl. No | Name and organization                                               | Designation in SEBI Board                                             |
|----------|---------------------------------------------------------------------|-----------------------------------------------------------------------|
|        1 | Shri Ajay Tyagi, SEBI                                               | Chairman                                                              |
|        2 | Shri G. Mahalingam, SEBI                                            | Whole-Time Member appointed under section 4(1)(d) of the SEBI Act.    |
|        3 | Smt. Madhabi Puri Buch, SEBI                                        | Whole-Time Member appointed under section 4(1)(d) of the SEBI Act.    |
|        4 | Shri S. K. Mohanty, SEBI                                            | Whole-Time Member appointed under section 4(1)(d) of the SEBI Act.    |
|        5 | Shri Ananta Barua, SEBI                                             | Whole-Time Member appointed under section 4(1)(d) of the SEBI Act.    |
|        6 | Shri Tarun Bajaj, Secretary, Department of Economic Affairs         | Member - Government nominee under section 4(1)(b) of the SEBI Act.    |
|        7 | Shri K. V. R. Murty, Joint Secretary, Ministry of Corporate Affairs | Member - Government nominee under Section 4(1)(b) of the SEBI Act.    |
|        8 | Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India (RBI) | Member - Nominee of RBI under section 4(1)(c) of the SEBI Act.        |
|        9 | Dr. V. Ravi Anshuman, Professor, IIM Bangalore                      | Member (Part Time) - Appointed under Section 4(1)(d) of the SEBI Act. |