Ramakrishna was chairman of Sebi from August 1990 to January 1994. He joined the Indian Administrative Service in 1952 and held various important positions in the state of Andhra Pradesh and the Government of India.
The regulator held a condolence meeting at its head office in Mumbai on Monday in memory of Sebi’s former chairman Ramakrishna, who passed away on March 20 in Chennai.
At the meeting, Tyagi said Ramakrishna was a well-known highly respected civil servant and an able administrator.
Though he worked in various capacities during his service career, his role as the chairman of Sebi will always be remembered not only by those associated with the securities market but also by others who are part of the financial sector in the country.
“He played a crucial role in giving shape to the regulatory architecture for capital markets during the formative years of Sebi…The visionary zeal of Ramakrishna and his administrative acumen laid the foundation for Sebi to become an effective regulator in the years to come,” Tyagi said in a statement.
Tyagi also said Sebi will always cherish the fond memories of Ramakrishna and the contributions made by him.
Whole-time members, executive directors and Sebi officials attended the meeting. Officials who had worked with Ramakrishna recalled their association and his affectionate nature.