The Securities and Exchange Board of India (SEBI) announced the appointment of Prasanta Mahapatra as Executive Director on Monday (August 3), with responsibility for the Corporation Finance Investigation Department (CFID) and the Recovery and Refund Department (RRD). According to the latest press release issued by SEBI in Mumbai on August 03, 2026, Mahapatra has assumed charge at the regulator's Mumbai headquarters, succeeding Sanjay Chandrakant Purao, who previously oversaw the two departments. The appointment was formally announced by SEBI, marking a significant leadership transition in the capital markets regulator. This strategic appointment aims to enhance SEBI's regulatory framework and enforcement capabilities, with Mahapatra's leadership expected to drive significant improvements in financial investigations and recovery processes.
Mahapatra joined SEBI in April 1999 and has spent more than 27 years with the capital markets regulator. As reported by CNBC TV18 and The Hindu BusinessLine, before being elevated as Executive Director, he was serving as Chief General Manager, a role in which he oversaw several regulatory and supervisory functions. His career spans multiple 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. Prior to his promotion as Executive Director, Mahapatra served as Chief General Manager and has handled diverse departments since joining SEBI in April 1999.
According to SEBI reports and The Hindu BusinessLine, Mahapatra has also served at SEBI's Eastern Regional Office in Kolkata, providing him experience across both policy and field-level regulatory functions. He has been a member of several domestic policy-making and advisory committees dealing with issues of mutual interest and cooperation with international regulators. His educational background includes a Master's degree in Business Administration from Utkal University, Odisha.
As reported by CNBC TV18 and The Hindu BusinessLine, Mahapatra 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. The succession reflects SEBI's continued focus on maintaining institutional knowledge and regulatory expertise across its key departments, with this appointment specifically designed to strengthen the regulator's enforcement capabilities in financial investigations and recovery processes.
