Regulation of stock exchanges - Mr. P J Thomas

The Government of Bombay constituted a committee in 1948 to examine the regulation of stock exchanges in India under the chairmanship of Mr. P J Thomas. During World War II, India's stock market activity surged. The scope of commodity market speculation was limited by the Defense of India Rules, but it led to increase in stock market speculation. The government was required to decide on peacetime stock market regulation, and the Committee was aimed to assist in this decision. This report deals with the principal aspects of this problem and suggests measures like Central legislation and setting up of a competent public authority to administer the laws.

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