Sebi proposes to do away with ‘promoter’ term; moots ‘person in control’ concept SECTIONS Share Synopsis "The investor landscape in India is now changing. Unlike the past, the concentration of ownership and controlling rights does not vest completely in the hands of the promoters or the promoter group," Sebi said in a discussion paper on Tuesday. "There has been a significant increase in the number of private equity and institutional investors who invest in companies and take up substantial shareholding, and in some cases, control," Sebi said. Related Mumbai: India’s capital market regulator has proposed to do away with the concept of a ‘promoter’ for listed companies, seeking to align the definition of executive ownership with that in the West where the concept of a ‘person in control’ is used to link decision making and primary shareholding.