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KVR Murty assumed office as a Whole Time Member of the Securities and Exchange Board of India (SEBI) in Mumbai on Wednesday. According to a SEBI press release, the veteran official joins SEBI following a tenure as the Additional Controller General of Defence Accounts within the Ministry of Defence.
Murty joins SEBI with over 30 years of experience on the SEBI board. His professional background spans diverse sectors, including national security and corporate law. Murty, an alumnus of the Delhi School of Economics, holds a Master's Degree in Economics and has previously occupied several high-ranking positions within the Government of India. Before his recent role in defence accounts, Murty served in various capacities, such as the Principal Integrated Financial Adviser for the Indian Air Force and the Financial Adviser at the Defence Research and Development Organisation (DRDO). His experience in the regulatory landscape was notably shaped during his stint as Joint Secretary in the Ministry of Corporate Affairs. "As a Joint Secretary, Ministry of Corporate Affairs, Shri Murty handled e-Governance policy making and administering of Corporate Laws," SEBI said. During his time with the Ministry of Corporate Affairs, Murty was instrumental in shifting the regulatory framework toward a less litigious environment. He focused on systemic reforms aimed at improving the business climate in the country. "Shri Murty conceived and piloted the Decriminalisation of Corporate Laws, which became the template for the Jan Vishwas Bill taken up by the Government of India to provide greater Ease of Doing Business and Ease of Living," SEBI stated. His previous work involved direct quasi-judicial functions. He has heard, adjudicated, and issued formal orders regarding complex corporate restructuring, including schemes of arrangements, mergers, and the amalgamations of government-owned companies. "Shri Murty has been a Part-Time Member (Government Nominee) on the Board of SEBI, the National Financial Reporting Authority (NFRA), and the councils of the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and the Institute of Cost & Management Accountants of India (ICMAI)," SEBI stated. Murty was awarded the Raksha Mantri Award for Excellence in 2024, having brought in important reforms and initiatives to improve the operational readiness of the Indian Air Force. (ANI)
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