The Bombay Stock Exchange (BSE) today announced the appointment of Sumit Bose – former finance secretary in India – as a new member of its Governing Board as a Public Interest Director, according to a BSE statement, and following the appointment of Justice Vikramajit Sen effective from yesterday.
The two new appointments – approved by the Securities Exchange Board of India (SEBI) – are aimed to help strengthen the BSE’s Board while enhancing its overall expertise, as a former judge and government official take on the roles of public interest director for the exchange’s governing body.
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Former Finance Secretary
Mr. Bose had previously served in various departments of the Madhya Pradesh Government in India, including as secretary of expenditure from May 2011 to August 2012. He currently holds a role in the Fiscal Responsibility and Budget Management (FRBM) Committee that was recently appointed by the Government of India, as per the BSE update.
In addition to his prior prominent role as finance secretary for the country, and throughout his public service career and current positions, Mr. Bose had been involved with numerous efforts related to finance including last year with regard to how mutual fund products are handled in India and solutions dealing with overlap from local regulators for the same product, according to an FRBM report.
Ex-Supreme Court Justice
Yesterday the BSE announced the appointment of Justice Sen, who also became a Public Interest Director for the exchanges Governing Board, now joined by Mr. Bose. Mr. Sen is a retired judge from a supreme court in India and is experienced in dealing with civil, arbitration and commercial disputes and has practiced in all the courts in Delhi, although primarily in the High Court of Delhi.
Mr. Sen graduated from St. Stephen’s College with honours in History and with first honours at the Faculty of Laws in Delhi University. He is involved with numerous other public serving positions and organizations including at Christian institutions as well as at schools.