Question

Which of the following correctly states the establishment and statutory history of SEBI (Securities and Exchange Board of India)?

Q: Answer-Which of the following correctly states the establishment and statutory history of SEBI (Securities...

SEBI was initially set up in April 1988 as a non-statutory, advisory body under a government resolution. Following the Harshad Mehta securities scam in 1992, SEBI was granted full statutory powers through the SEBI Act, 1992, which gave it the authority to regulate the securities market, protect investor interests, and promote market development. SEBI is headquartered in Mumbai with regional offices in Delhi, Chennai, Kolkata, and Ahmedabad. It derives additional powers from the Securities Contracts Regulation Act, 1956, and the Depositories Act, 1996.

A SEBI was established in 1992 as a fully statutory body under the SEBI Act, 1992

B SEBI was first set up in 1988 as a non-statutory advisory body, then granted full statutory powers under the SEBI Act, 1992; headquartered in Mumbai

C SEBI was established in 1990 as a statutory body under the Securities Contracts (Regulation) Act, 1956

D SEBI was established in 1992 under the Companies Act and later given additional powers under SEBI Act, 1996

E SEBI was established in 1988 with statutory powers to regulate only the Bombay Stock Exchange

Practice Next