Proposed Legislation for the Regulation of Stock Exchanges and Contracts in Securities - Shri A.D. Gorwala Committee Report
The committee was formed by the Ministry of Finance, Department of Economic Affairs, Government of India, under the chairmanship of Shri A. D. Gorwala. The mandate of the committee was to review and report on government draft proposals and to submit a revised bill with a memorandum detailing each clause's reasons. The Committee agreed with two considerations of the government regarding the usefulness of stock exchanges and the systematic regulation of these exchanges. The report critically examined the proposal for abolishing or limiting blank transfers and suggests that the abolition or limitation of blank transfers will do more harm than good and is crucial for promoting progress and development.
