tag:blogger.com,1999:blog-145003832010-01-09T12:48:26.445-08:00Bloomsbury Collegenoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-14500383.post-1121383291709599172005-07-14T16:21:00.000-07:002005-07-14T16:21:31.716-07:00SECURITIES AND EXCHANGE BOARD OF INDIA<br />MEMBERS OF THE BOARD<br />Shri D. R. MEHTA<br />Chairman<br />Member appointed under Section 4(1)(d) of the SEBI Act, 1992 (15 of 1992)<br />JAYANTH RAMA VARMA<br />Full-time Member<br />KUMAR MANGALAM BIRLA<br />Members nominated under Section 4(1)(b) of the SEBI Act, 1992 (15 of 1992)<br />RAKESH MOHAN<br />Adviser to Finance Minister<br />Ministry of Finance<br />Department of Economic Affairs<br />Government of India<br />S P TALWAR<br />Deputy Governor<br />Reserve Bank of India<br />V GOVINDARAJAN<br />Secretary<br />Department of Company Affairs<br />Ministry of Law, Justice and Company Affairs<br />Government of India<br /><br />List of Abbreviations<br />iii<br />PART I<br />POLICIES AND PROGRAMMES<br />1<br />A) REVIEW OF THE GENERAL ECONOMIC<br />ENVIRONMENT AND THE INVESTMENT CLIMATE<br />10<br />B) REVIEW OF POLICIES AND PROGRAMMES<br />15<br />i. Primary Securities Market<br />15<br />ii. Secondary Securities Market<br />21<br />iii. Mutual Funds<br />37<br />iv. Foreign Institutional Investors<br />45<br />v. Intermediaries Associated with the Securities Markets<br />46<br />vi. Other Policies and Programmes Having a Bearing on the<br />Working of the Securities Markets<br />47<br />vii. Assessment and Prospects<br />64<br />PART II<br />REVIEW OF THE TRENDS & WORKING OF THE<br />SECURITIES MARKETS<br />66<br />A) Primary Securities Market<br />66<br />B) Secondary Securities Market<br />80<br />C) Mutual Funds<br />102<br />D) Foreign Institutional Investors<br />110<br />E) Substantial Acquisition of Shares and Take-overs<br />112<br />F) Investigation, Enforcement and Surveillance (IES)<br />112<br />G) Litigation, Appeals and Court Pronouncements<br />134<br />(i)<br />Page 4<br />PART III<br />FUNCTIONS OF SEBI IN RESPECT OF MATTERS SPECIFIED<br />IN SECTION 11 OF THE SECURITIES AND EXCHANGE<br />BOARD OF INDIA ACT, 1992<br />141<br />A) Regulation of Business in the Stock Exchanges<br />141<br />B) Registration and Regulation of the Working of Intermediaries<br />141<br />C) Registration and Regulation of Mutual Funds<br />146<br />D) Fraudulent and Unfair Trade Practices<br />147<br />E) Prohibition of Insider Trading<br />147<br />F) Substantial Acquisition of Shares and Take-overs<br />147<br />G) Investor Education and the Training of Intermediaries<br />148<br />H) Inspection and Inquiries<br />148<br />I)<br />Fees and Other Charges<br />154<br />J) Activities of Research Department<br />155<br />K) Other Functions<br />155<br />PART IV<br />ORGANISATIONAL MATTERS OF THE SECURITIES AND<br />EXCHANGE BOARD OF INDIA<br />159<br />ANNEXURE 1<br />A-1<br />ANNEXURE 2<br />A-2<br />ANNEXURE 3<br />A-4<br />ANNEXURE 4<br />A-5<br />(ii)<br />Page 5<br />ABBREVIATIONS<br />ALBM<br />Automated Lending and Borrowing Mechanism<br />ALBRS<br />Automated Lending and Borrowing Under Rolling Settlement<br />AMC<br />Asset Management Company<br />AMFI<br />Association of Mutual Funds in India<br />APRC<br />Asia Pacific Regional Council<br />BLESS<br />Borrowing and Lending of Securities Schemes<br />BOLT<br />BSE On-Line Trading<br />BgSE<br />Bangalore Stock Exchange<br />BSE<br />Bombay Stock Exchange<br />BSE Natex<br />BSE National Index (100 Scrips)<br />BSE Sensex<br />BSE Sensitive Index (30 Scrips)<br />CBDT<br />Central Board of Direct Taxes<br />CCPS<br />Cumulative Convertible Preference Shares<br />CDSL<br />Central Depository Services Limited<br />CFRS<br />Carry Forward Under Rolling Settlement<br />CIS<br />Collective Investment Schemes<br />CNS<br />Continuous Net Settlement<br />CRA<br />Credit Rating Agency<br />CRISIL<br />Credit Rating Information Services of India Ltd<br />CSEKL<br />Capital Stock Exchange of Kerala Limited<br />CUG<br />Closed User Group (Connectivity)<br />DCA<br />Department of Company Affairs<br />DFI<br />Development Financial Institution<br />DoT<br />Department of Telecommunications<br />DPs<br />Depository Participants<br />DRR<br />Debenture Redemption Reserve<br />DSE<br />Delhi Stock Exchange<br />DVP<br />Delivery versus Payment<br />ERO<br />Eastern Regional Office<br />ESOS<br />Employee Stock Options Scheme<br />ESPS<br />Employee Stock Purchase Scheme<br />FCDs<br />Fully Convertible Debentures<br />FERA<br />Foreign Exchange Regulation Act<br />FIFO<br />First In First Out Method<br />FIIs<br />Foreign Institutional Investors<br />Fis<br />Financial Institutions<br />FVRC<br />Foreign Venture Capital Investors<br />GDP<br />Gross Domestic Product<br />GIC<br />General Insurance Corporation<br />ICAI<br />Institute of Chartered Accountants of India<br />IDFC<br />Infrastructure Development and Finance Corporation<br />IL&FS<br />Infrastructure Leasing and Financial Services<br />IOSCO<br />International Organisation of Securities Commissions<br />IPO<br />Initial Public Offer<br />(iii)<br />Page 6<br />ISDN<br />Integrated Services Digital Network<br />ISE<br />Inter-connected Stock Exchange of India Ltd.<br />ISIN<br />International Securities Identification Number<br />LSE<br />Ludhiana Stock Exchange<br />LAN<br />Local Area Network<br />MCFS<br />Modified Carry-Forward System<br />MF<br />Mutual Fund<br />MSE<br />Madras Stock Exchange<br />MoU<br />Memorandum of Understanding<br />NAV<br />Net Asset Value<br />NBFC<br />Non-Banking Financial Company<br />NCAER<br />National Council of Applied Economic Research<br />NCDs<br />Non-Convertible Debentures<br />NCFM<br />NSE Certification on Financial Management<br />NPA<br />Non-Performing Assets<br />NRI<br />Non-Resident Indian<br />NRO<br />Northern Regional Office<br />NSCCL<br />National Securities Clearing Corporation Limited<br />NSDL<br />National Securities Depository Limited<br />NSEIL<br />National Stock Exchange of India Limited<br />OCBs<br />Overseas Corporate Bodies<br />OCCPS<br />Optionally Convertible Cumulative Preference Share<br />OFCDDs<br />Optionally Fully Convertible Discounted Debentures<br />OFCDs<br />Optionally Fully Convertible Debentures<br />OIC<br />Overseas Investor Cell<br />OTCEI<br />Over-the-Counter-Exchange of India<br />PCD<br />Partially Convertible Debenture<br />PSU<br />Public Sector Undertaking<br />RAIN<br />Registrars Association of India<br />RTI<br />Registrar to the Issue<br />S&P CNX NIFTY<br />NSE Index (50 Scrips)<br />SAT<br />Securities Appellate Tribunal<br />SC(R) Act<br />Securities Contract (Regulation) Act, 1956<br />SEBI<br />Securities and Exchange Board of India<br />SGF<br />Settlement Guarantee Fund<br />SHCIL<br />Stock Holding Corporation of India Limited<br />SRO<br />Self Regulatory Organisation<br />STA<br />Share Transfer Agent<br />T-Bills<br />Treasury Bills<br />UTI<br />Unit Trust of India<br />VCU<br />Venture Capital Undertaking<br />VSAT<br />Very Small Aperture Terminal<br />WAN<br />Wide Area Network<br />WAP<br />Wireless Application Protocol<br />WDM<br />Wholesale Debt Market<br />(iv)<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/14500383-112138329170959917?l=www.multisimcards.com' alt='' /></div>Bloomsbury Collegenoreply@blogger.com1