Capital markets and securities laws
Lokganathan, E. T.,
Capital markets and securities laws E.T. Lokganathan. - xii, 162 pages ; 23 cm.
Includes bibliographical references and index.
Indian capital market : an introduction -- Capital market reforms in India -- Depository system, dematerialisation (demat) and rematerialisation (remat) -- Traditional instruments of capital market -- Innovative financial instruments (derivatives) -- Modernisation of stock exchanges -- Corporate debt market -- Money market -- Mutual funds -- Portfolio investment by foreign institutional investors (flls) -- Securities Contracts (Regulation) Act (SCRA), 1956 -- Securities and Exchange Board of India (SEBI) Act, 1992 -- Depositories Act, 1996 and Depositories and Participants Regulations, 2018 -- Companies Act, 2013 -- Insolvency and Bankruptcy Code (IBC), 2016 -- Limited Liability Partnership (LLP) Act, 2008 -- Payment and settlement systems in India -- Credit rating agencies -- Protection of investors.
"Prior to the initiation of financial reforms in the early 1990s, capital market structure in India was subject to several controls and opaque procedures. The trading and settlement system was outdated and not in tune with international practices. Raising of capital from the market was regulated by the Capital Issues (Control) Act, 1947 which was administered by the Controller of Capital Issues (CCIs) in the Ministry of Finance, Government of India. The scheme of controls under the Act required all the companies to obtain prior consent for issue of capital to the public. Pricing as well as the features of the capital structure (such as debt-equity ratios), were controlled by the government. The Securities Contracts (Regulation) Act, 1956 was administered by the Directorate of Stock Exchanges, also in the Ministry of Finance. It empowered the Government to recognise/derecognise stock exchanges, stipulate rules and bylaws for their functioning, compel listing of securities by public companies etc. Such a system of regulation and control was fragmented and inadequate in the context of liberalisation wave sweeping across the world. Urgent measures were needed to relax controls and modernise the functioning of capital market. It was in this backdrop, that wide-ranging financial sector reforms in India were introduced as an integral part of the economic reforms process started in the early 1990s. Reforms in respect of capital markets have focused on creating a deregulated environment and enabling free play of market forces while at the same time strengthening the prudential norms and the supervisory system." -- From the publisher.
9788177084931 8177084933
Capital market
Securities--Law and legislation--India.--India.
346.540 / LOK
Capital markets and securities laws E.T. Lokganathan. - xii, 162 pages ; 23 cm.
Includes bibliographical references and index.
Indian capital market : an introduction -- Capital market reforms in India -- Depository system, dematerialisation (demat) and rematerialisation (remat) -- Traditional instruments of capital market -- Innovative financial instruments (derivatives) -- Modernisation of stock exchanges -- Corporate debt market -- Money market -- Mutual funds -- Portfolio investment by foreign institutional investors (flls) -- Securities Contracts (Regulation) Act (SCRA), 1956 -- Securities and Exchange Board of India (SEBI) Act, 1992 -- Depositories Act, 1996 and Depositories and Participants Regulations, 2018 -- Companies Act, 2013 -- Insolvency and Bankruptcy Code (IBC), 2016 -- Limited Liability Partnership (LLP) Act, 2008 -- Payment and settlement systems in India -- Credit rating agencies -- Protection of investors.
"Prior to the initiation of financial reforms in the early 1990s, capital market structure in India was subject to several controls and opaque procedures. The trading and settlement system was outdated and not in tune with international practices. Raising of capital from the market was regulated by the Capital Issues (Control) Act, 1947 which was administered by the Controller of Capital Issues (CCIs) in the Ministry of Finance, Government of India. The scheme of controls under the Act required all the companies to obtain prior consent for issue of capital to the public. Pricing as well as the features of the capital structure (such as debt-equity ratios), were controlled by the government. The Securities Contracts (Regulation) Act, 1956 was administered by the Directorate of Stock Exchanges, also in the Ministry of Finance. It empowered the Government to recognise/derecognise stock exchanges, stipulate rules and bylaws for their functioning, compel listing of securities by public companies etc. Such a system of regulation and control was fragmented and inadequate in the context of liberalisation wave sweeping across the world. Urgent measures were needed to relax controls and modernise the functioning of capital market. It was in this backdrop, that wide-ranging financial sector reforms in India were introduced as an integral part of the economic reforms process started in the early 1990s. Reforms in respect of capital markets have focused on creating a deregulated environment and enabling free play of market forces while at the same time strengthening the prudential norms and the supervisory system." -- From the publisher.
9788177084931 8177084933
Capital market
Securities--Law and legislation--India.--India.
346.540 / LOK