C B Bhave takes charge as the new SEBI chief

Mumbai, Feb 18 (UNI) Chandrasekher Bhaskar Bhave has taken the charge of the Chairman of Indian market regulator, Securities and Exchange Board of India (SEBI) for next three years.

Outgoing SEBI Chairman M Damodaran, who completed his three-year tenure on February 17, welcomed Mr Bhave to the office this morning and handed over the charge to him.

Mr Bhave, a former civil servent, had headed the country's leading depository, National Securities Depository Limited (NSDL) and was one of the first senior executive directors to come on SEBI's board.

Apart from a short stint as head of the primary market department during 1995-96, he had also been in-charge of SEBI's secondary market division between 1992 and 1996 and was closely associated with the development of online trading in securities.

UNI PP DB SM1229