New Delhi, March 2 -- When Tuhin Kanta Pandey took charge as chairman of the Securities and Exchange Board of India (Sebi) a year ago, the regulator was navigating one of its most turbulent phases.

The controversy involving his predecessor, Madhabi Puri Buch, and the allegations raised by Hindenburg Research had unsettled India's market regulator. Foreign portfolio investors were jittery, domestic participation was expanding at a pace never seen before, and questions were raised about both credibility and transparency.

One year later, the tone is calmer.

Describing his year as challenging, Pandey said that Sebi has been working with 4Ts in mind: trust, transparency, teamwork, and technology. "I can say that stakeholders have worked on ...