Question
Which statement is not correct about Securities and
Exchange Board of India (SEBI)? (A) SEBI was established in 1988 (B) SEBI gets statutory powers from SEBI Act 1992 (C) Ajay Tyagi is the Chairman of SEBI (D) Head Office of SEBI is in New Delhi.Solution
The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India. It was established in the year 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992. Initially SEBI was a non statutory body without any statutory power. However, in 1995, the SEBI was given additional statutory power by the Government of India through an amendment to the Securities and Exchange Board of India Act, 1992. Its Head Office is in Mumbai.
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