Sumit Agrawal, an Assistant Legal Advisor at the the Securities Exchange Board of India, has resigned from his post. After nine years with the market regulator, Sumit has taken an entrepreneurial plunge.

The independent venture, Suvan Law Advisors, would be focusing on the regulatory space. He will be joined  by his wife Vaneesa Agrawal, who had left SEBI in 2014 for independent practice.

Speaking to Bar & Bench on his decision, Sumit said,

“After being with SEBI for almost a decade, I wanted to gain perspective from the other side as well. It is my sincere belief that the future of white collar legal profession lies with regulatory practice. I always wanted to do this and I feel that the stage Indian economy is in, this is the right time to take the entrepreneurial plunge.”

A 2007 graduate from NLU Jodhpur, Sumit has also authored India’s first comprehensive book on SEBI Act.

While at SEBI, he worked with Surveillance, Legal Affairs, Commodities and Litigation verticals of the regulator including investigating IPO Scam (Roopalben Panchal Scam), Satyam Scam inquiries, and the Justice Sodhi Committee on Insider Trading.

On his experience working at SEBI, Sumit in his letter informing about his resignation, said,

“Since 2007, having worked with Chairman M Damodaran, C B Bhave and U K Sinha with their different teams, each leadership style has taught me something different and I am grateful for that. It has been a great learning experience.”