Authors : Kewal H. Karhade and Vijay A. Bankar
Page Nos : 82-85
Description :
It was formed officially by the Government of India in 1992 with SEBI Act 1992 being passed by the Indian parliament SEBI is headquartered in the business district of Bandra Kurla Complex in Mumbai and has Northern,Eastern,Southern and Western regional offices in New Delhi,Kolkata,Chennai and Ahmadabad. Controller of capital issues was the regulatory authority before SEBI came in to existence, it derived authority from the capital issues (control) Act, 1947 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 in April 1998 the SEBI was constituted as the regulator of capital markets in India under a resolution of the Government of India.The SEBI in managed by the six members ,i.e.by the chairman who is nominated by the central Government and two members ,i.e. officers of central ministry, one members from the RBI and the remaining two are nominated by the central Government. The office of SEBI is statute at Mumbai with its regional offices at Kolkata, Delhi, and Chennai.
