Conflict of Interest: Ex-CVC Pratyush Sinha To Head SEBI's High-level Committee To Review 2008 Provisions
Moneylife Digital Team 09 April 2025
Pratyush Sinha, an officer from the Indian Administrative Services (IAS) and former chief vigilance commissioner (CVC), will head the six-member high-level committee (HLC) of Securities and Exchange Board of India (SEBI). The committee will review the 2008 provisions related to conflict of interest and disclosures related to property, investment and liabilities for members and officials of the SEBI board. 
 
Other members of the HLC are: Injeti Srinivas (IAS, former secretary, ministry of corporate affairs & former chairman IFSCA), who will be the vice-chairman of the Committee. The HLC also has Uday Kotak (founder director of Kotak Mahindra Bank), G Mahalingam (former executive director of Reserve Bank of India- RBI and former whole-time member (WTM) of SEBI), Sarit Jafa (IA&AS and former deputy comptroller and auditor general) and professor R Narayanaswamy (former professor of IIM, Bangalore).
 
In a release, the market regulator says the HLC will comprehensively review and make recommendations for enhancing the existing framework for managing conflicts of interest, disclosures and related matters towards ensuring the high standards of transparency, accountability, and ethical conduct of members and officials of the SEBI board. 
 
HLC will recommend a robust framework for preventing, mitigating and managing conflict of interest, including a recusal policy, disclosure requirements covering public disclosures, provisions pertaining to restrictions on investments, maintenance of digital records and monitoring. It will also recommend a mechanism for public members to raise concerns about conflict of interest disclosures, including the process to examine complaints. 
 
"The HLC is expected to submit its recommendations within three months from the date of constitution, which shall be placed before the Board for consideration," SEBI says.  
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