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Securities And Exchange Board Of India Act, 1992
The Securities and Exchange Board of India Act, 1992 is an act that was enacted for regulation and development of securities market in India. It was amended in the years 1995, 1999, and 2002 to meet the requirements of changing needs of the securities market. It was the 15th Act of 1992. The Act provides for the establishment of Securities and Exchange Board of India following the Harshad Mehta scam. The Act contains 10 Chapters and 91 Sections. Preamble The Securities and Exchange Board of India is the sole regulator of the Indian Securities Market. Its Preamble describes its basic function as "...to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incid thereto" Management of the Board The management of Board is run by its members appointed by the central Government: ::(a) Chairman ::(b) Two members from the Ministry of Finance of the Union. ::(c) One m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of India
The Parliament of India (ISO 15919, ISO: ) is the supreme legislative body of the Government of India, Government of the Republic of India. It is a bicameralism, bicameral legislature composed of the Rajya Sabha (Council of States) and the Lok Sabha (House of the People). The president of India, President of the Republic of India, in their role as head of the legislature, has full powers to summon and prorogue either house of Parliament or to dissolve the Lok Sabha, but they can exercise these powers only upon the advice of the prime minister of India, Prime Minister of the Republic of India and the Union Council of Ministers. Those elected or nominated (by the president) to either house of the Parliament are referred to as member of Parliament (India), members of Parliament (MPs). The member of Parliament, Lok Sabha, members of parliament in the Lok Sabha are direct election, directly elected by the voting of Indian citizens in single-member districts and the member of Parliame ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security (finance)
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equity and fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic ( dematerialized) or " book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning they entitle the holder to rights only if they appear on a securi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Board Of India
The Securities and Exchange Board of India (SEBI) is the Regulatory agency, regulatory body for securities and commodity market in India under the administrative domain of Ministry of Finance (India), Ministry of Finance within the Government of India. It was established on 12 April 1988 as an executive body and was given Statutory body, statutory powers on 30 January 1992 through the Securities and Exchange Board of India Act, 1992, SEBI Act, 1992. History The Securities and Exchange Board of India (SEBI) was first established in 1988 as a non-statutory body for regulating the securities market. Before it came into existence, the Controller of Capital Issues was the market's regulatory authority, and derived power from the Capital Issues (Control) Act, 1947. SEBI became an autonomous body on 30 January 1992 and was accorded Statutory body, statutory powers with the passing of the SEBI Act, 1992 by the Parliament of India. It has its headquarters at the Central business distr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harshad Mehta
Harshad Shantilal Mehta (29 July 1954 – 31 December 2001) was an Indian stockbroker, businessman, and convicted fraudster. Mehta's involvement in the 1992 Indian securities scam (about ) led him to gain infamy for market manipulation. Of the 27 criminal charges brought against Mehta, he was only convicted of four, before his death (by sudden heart attack) at age 47 in 2001. It was alleged that Mehta engaged in a massive stock manipulation scheme financed by worthless bank receipts, which his firm brokered for "ready forward" transactions between banks. Mehta was convicted by the Bombay High Court and the Supreme Court of India for his part in a financial scandal valued at which took place on the Bombay Stock Exchange (BSE). The scandal exposed the loopholes in the Indian banking system and the Bombay Stock Exchange (BSE) transaction system, and consequently the SEBI introduced new rules to cover those loopholes. He was on trial for 9 years, until he died at the end of 200 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1992 Indian Stock Market Scam
The 1992 Indian stock market scam was a market manipulation carried out by Harshad Mehta with other bankers and politicians on the Bombay Stock Exchange. The scam caused significant disruption to the stock market of India, defrauding investors of over fifteen million USD. Techniques used by Mehta involved having corrupt officials sign fake cheques, abuse market loopholes, and use fabrication to drive stock prices up to 40 times their original price. Stock traders making good returns as a result of the scam were able to fraudulently obtain unsecured loans from banks. When the scam was discovered in April 1992, the Indian stock market collapsed, and the same banks suddenly found themselves holding millions of Indian rupees (INR) in useless debt. 1992 Scandal Overview The biggest money market scam ever committed in India, amounting to approximately 5,000 crores. The main perpetrator of the scam was a stock and money market broker Harshad Mehta. It was a systematic stock scam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Acts Of The Parliament Of India 1992
The Acts of the Apostles (, ''Práxeis Apostólōn''; ) is the fifth book of the New Testament; it tells of the founding of the Christian Church and the spread of its message to the Roman Empire. Acts and the Gospel of Luke make up a two-part work, Luke–Acts, by the same anonymous author. Traditionally, the author is believed to be Luke the Evangelist, a doctor who travelled with Paul the Apostle. It is usually dated to around 80–90 AD, although some scholars suggest 110–120 AD.Tyson, Joseph B., (April 2011)"When and Why Was the Acts of the Apostles Written?" in: The Bible and Interpretation: "...A growing number of scholars prefer a late date for the composition of Acts, i.e., c. 110–120 CE. Three factors support such a date. First, Acts seems to be unknown before the last half of the second century. Second, compelling arguments can be made that the author of Acts was acquainted with some materials written by Josephus, who completed his Antiquities of the Jews in 93� ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
