SEBI appoints Prasanta Mahapatra as Executive Director for CFID, Recovery and Refund Department

The Securities and Exchange Board of India (SEBI) on Monday (August 3) announced the appointment of Prasanta Mahapatra as an Executive Director, with responsibility for the Corporation Finance Investigation Department (CFID) and the Recovery and Refund Department (RRD). He has taken charge at the regulator’s Mumbai headquarters, succeeding Sanjay Chandrakant Purao, who previously oversaw the two departments.

 

More than 27 years at the market regulator

Mahapatra joined SEBI in April 1999 and has spent more than 27 years with the capital markets regulator. Before being elevated as Executive Director, he was serving as Chief General Manager, a role in which he oversaw several regulatory and supervisory functions.

Over the course of his career, he has worked across a range of departments, including the Market Regulation Department, Investigation Department, Enquiries and Adjudication Department, Market Intermediaries Regulation and Supervision Department, Corporation Finance Department and Investment Management Department. He has also served at SEBI’s Eastern Regional Office in Kolkata, giving him experience across both policy and field-level regulatory functions.

SEBI said Mahapatra has also been a member of several domestic policy-making and advisory committees dealing with issues of mutual interest and cooperation with international regulators. 

Educational background

Mahapatra holds a Master’s degree in Business Administration from Utkal University, Odisha, according to SEBI. He succeeds Sanjay Chandrakant Purao, who was appointed Executive Director in August 2025 and was entrusted with the Corporation Finance Investigation Department and Recovery and Refund Department before being assigned other responsibilities within the regulator.