Which of the following is not a function of SEBI as

Solution

Based on Section 11 of the Securities and Exchange Board of India (SEBI) Act, 1992, the correct answer is:   attach, for a period not exceeding sixty days, bank accounts or other property of any intermediary or any person associated with the securities market, pending investigation or inquiry or on completion of such investigation or inquiry   Reasoning (Why this is not a function/power as  stated ):   The statement is incorrect  regarding  the time limit.   According to Section 11(4)(e) of the SEBI Act, SEBI has the power to attach bank accounts or other property, but the Act specifies that this attachment is for a period not exceeding ninety days (not sixty days).  

• Statutory Requirement: The attachment order is valid for up to 90 days. Within this period, SEBI must obtain confirmation from the Special Court to continue the attachment.  

• Prohibiting insider trading: Correct under Section 11(2)(g).  

• Calling for information/inspection of stock exchanges/mutual funds: Correct under Section 11(2)( i ).  

• Inspection of books of listed public company: Correct under Section 11(2A) (specifically if there are grounds to believe the company is indulging in insider trading or fraudulent practices).  

• Summoning and enforcing attendance (Civil Court powers): Correct under Section 11(3).