R S Loona, a senior IDBI official, has joined Securities and Exchange Board of India as an executive director and will head Sebi's legal department.

Loona, who is on a two-year deputation at Sebi, took charge of his new assignment on Wednesday. He succeeds Dharmishta Raval, who quit Sebi as its legal chief.

Prior to joining Sebi, Loona was working as chief general manager (legal) with IDBI.   

Sebi is facing crunch at senior positions; it is left with only two executive directors, Pratip Kar and S Khelon, Sebi sources said.

Besides Raval, another ED, R M Joshi, retired last December.

Sebi had offered jobs to two persons - one private sector finance professional and another working with public sector organisation. But, following some objections over credentials of candidates, the entire process had been kept in abeyance, the sources added.