The Alternative Investment Policy Advisory Committee is chaired by Infosys Founder N R Narayana Murthy, as per the latest update with the markets watchdog. The regulator had constituted the committee in March 2015 with the mandate to prepare a new regulatory framework for alternative investments. So far, the panel has submitted three reports to Sebi. It had submitted its first, second and third set of recommendations in January 2016, November 2016 and January 2018, respectively.
Besides Murthy, the expert panel consists of 22 members, including top executives of private equity firms, venture capital firms, government representatives and officials of Sebi and Reserve Bank of India (RBI). The committee is mandated to advise Sebi on issues related to the further development of the alternative investment and startup ecosystem in India. In addition, the panel advises the regulator on any hurdles that might hinder the development of the alternative investment industry under its purview. Further, the committee will suggest Sebi on issues which need to be taken up with other regulators for development of the alternative investment industry.