IV

INDEX

S.No. Contents Page

No.
1. Chapter - 1 1 - 1o
INVESTMENT SCENARIO - THE GENESIS AND
GROWTH
Concept of Investment 1
Physical and Financial Investments 2
Investment and speculation 2
Investment objectives and constraints 2
Patterns of Investment in India 3
Patterns of Savings 5
Security and non security form of investments 7
Capital Markets- Primary and Secondary Markets 9

2. Chapter - 2 11- 44
SEBI- AN INTRODUCTION
Constitution of Securities and Exchange Board of 12
India
Chairman And Members of the Board 12
Organization of SEBI 13
Human resources 13
Objectives of Sebi 14
Functions of Sebi 14
Powers of Sebi 15
Concurrent powers of Sebi 15
Role of Sebi in Capital Market 16
Achievements of Sebi 17
Securities And Exchange Board Of India Act 1992 21
Investigations by Sebi 43

3. Chapter- 3 45-71
THE SECURITIES CONTRACTS (REGULATION)
ACT, 1956
Recognized Stock Exchanges 47
Contracts and Options in Securities 56
Listing of securities 59
 V

Penalties and Procedures 65

✓4_ Chapter-4 72-94

CAPITAL MARKET AND MONEY MARKET
INSTRUMENTS
Shares 72
Debentures 76
Deep discount bonds 80
Zero interest bonds 80
UTI Units 81
Assured return scheme of Mutual funds 85
Certificate of deposits 87
Commercial Paper 87
Electronic Trade Monitoring System 93

5 . ..,_ Chapter-5 95-122

MERCHANT BANKING
Normal Vs Merchant banking 96
Classification of Merchant bankers 96
Activities of Merchant Banker 97
Sebi- Merchant Banking Regulations 1992 102
Recent trends in Merchant Banking in India 118
Future of Merchant Banking in India 120

6. Chapter - 6 123-163
SEBI GUIDELINES FOR INVESTOR PROTECTION
Listing of securities 123
Disclosure in Prospectus 126
Underwriting 133
Sebi (Underwriter) Rules And Regulations, 1993 135
Promoters contribution 138
Bonus Issue 145
Sebi Guidelines On Bonus Issues 145
Debentures 147
Sebi Guidelines on debentures 147
SEBI (Employee stock Option Scheme and 151
 VI

Employee Stock Purchase scheme) Guidelines 1999

7. ✓ Chapter-7 164-181
SECURITIES
Primary issues and derivative securities 164
Stock Exchanges 165
Transfer and transmission of Securities 172
National Stock Exchange 175
Wholesale Debt Market 177
'f Primary listing of Companies on Stock Exchanges 178

8. ✓ Chapter - 8 182-
CONCLUSIONS AND SUGGESTIONS 195
Major policy reforms and development in capital 183
Market
Comparison between SEBI and SEC US on laws on 190
Insider Trading
Public opinion about the performance of and 191
expectations from SEBI
Future Strategy 192
Suggestions 192

9. 'f-- Annexures 196-210

Annexure-1 196
Action Taken Against the Brokers During the Period
01-04-1999 to 31-3-2000
Annexure- 2 199
Action Taken by SEBI Pursuant to Investigations in
1999-00
Annexure - 3 205
forms for complaint to SEBI
Annexure - 4 208
Form for survey to assess public opinion about SEBI
✓ 10. Bibliography 210