Sebi rejigs advisory committee on investor protection

Markets regulator Sebi has reconstituted its advisory committee on Investor Protection and Education Fund (IPEF), which is used to refund aggrieved investors.

The committee recommends investor education and protection activities that may be undertaken directly by the regulator or through any other agency.

Besides, IPEF funds can be used for the purpose of refund to aggrieved investors.

The 7-member committee will be headed by Ajay G Piramal Chairman, Piramal Group and Shriram Group. In the past, the panel was chaired by former ICICI Bank chairman K V Kamath.

The new panel comprises M G Parameswaran, founder, brand-building.com, N L Bhatia, President, Emeritus, Investor Education and Welfare Association and Consultant Rama Bijapurkar.

Besides, the committee has three Sebi members -- Executive Director Gyan Bhushan and Chief General Managers N Hariharan and V S Sundaresan.