Kumar Mangalam Birla to head Sebi panel

Mumbai: The Securities and Exchange Board of India has nominated Kumar Mangalam Birla, chairman of the AV Birla group, as chairman of the committee on insider training. Sebi has also nominated Nandan Nilekani, managing director of Infosys Technologies and Ishaat Hussain, executive director of Tata Sons, as members of the committee.

Sebi has already formulated guidelines to regulate insider training, but it has set up the committee to examine the issue on a broader level. The committee is expected to work towards developing more comprehensive guidelines.

Besides the three, the committee includes Abhishek Singhvi, a Delhi-based advocate, S.H. Bhojani, deputy managing director of ICICI, M.M. Kapur, executive director, Unit Trust of India, and Shitin Desai, vice-chairman and managing director of DSP Merrill Lynch.
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Doreswamy on Hindustan Motors board
Calcutta: Hindustan Motors has inducted an outside director, S. Doreswamy, a representative of the Industrial Development Bank of India, on its board. Earlier, the company had brought in Narayanan Sankar, chief of Sanmar group, and Anand Burman, wholetime director of Dabur India, on the board.

The board of the company now comprises C.K. Birla, G.D. Kothari, A.C. Muthiah, Pradip Kumar Khaitan, Kranti Sinha (chief executive, LIC Housing Finance), S. Mukherjee (ICICI representative) and A. Sankaranarayanan (executive director) besides Mr Doreswamy, Mr Narayanan Sankar and Mr Burman.
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Narasimhan, FCI chairman passes away

New Delhi: B. Narasimhan, chairman of the Food Corporation of India, passed away following a heart ailment. He was 57.

Mr Narasimhan, a Gujarat cadre IAS officer, took over as chairman of FCI in February 1998. Prior to this, he was chairman of the Bureau of Industrial Costs and Prices. He was an expert in natural disaster management.
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