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It is chaired by Mr. M. Damodaran a respected turnaround civil servant credited with turning around large public sector companies from near death scenarios including the famous Unit Trust of India. Below the Board, headed by the Chairman, the staff/officers of the organization are led by Executive Directors.
Sebi has three functions rolled into one body: legislative, judicial and executive. It drafts rules in its legislative capacity, it conducts enquiries and enforcement action in its executive fuction and it passes rulings and orders in its judicial capacity. Though this makes it exceedingly powerful, there is an appeals process to create accountibility...
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