SEBI - An Evolution of Legislative Empowerment
The article traces the evolution of SEBI from its conceptualization in the G.S. Patel Committee Report, 1985 to its establishment in the year 1988, its empowerment through legislation as a statutory body in the year 1992 and beyond. Accordingly, this article highlights the salient features of Acts such as the SEBI Act, 1992, the Depositories Act, 1996, the Securities Contracts [Regulation] Act, 1956, and the Companies Act, 2013. The article also delves into the details of the important legislative empowerment of SEBI through legislative amendments in the years 1995, 1999, 2002, 2004, 2014, 2015 and 2019.