• Tuhina Nasrin
• Debomita Banerjee

The establishment of SEBI in 1992 has transformed India's financial markets, evolving from the SCRA's foundations with rigorous insider trading regulations and robust investor protections were strongly inculcated. It streamlined IPOs and the "Mutual Fund Lite" framework sparked market dynamism, building trust of the investors genuinely. As trading evolved, SEBI's proactive oversight ensured fairness, adapting to digital platforms and high-frequency trading. Where the SCRA laid the groundwork, the SEBI evolved as market's architect because it navigated complexities, adapting to digital trading and sustainable finances which has focused on safeguarding investors and driving growth. SEBI’s evolution, a blend of strength and agility, making rules and ensuring they were followed thus created a clear structured system. SEBI's commitment to investor protection and market integrity cements its position as a cornerstone of India's economic progress, ensuring sustained confidence and growth. Recognizing the SCRA's limitations, SEBI was established to inject vital stability, ensuring fairness and preventing market manipulation. In this context, the paper first briefly underscores the ineffectiveness of SCRA with gradual emergence of SEBI. It then elucidates the role of SEBI protecting market integrity and investor protection which was call of the hour. Against this backdrop, it examines a few market manipulations and scams that reinforce the establishment of SEBI.

Indian financial market, insider trading, market integrity, digital trading

"Securities and Exchange Board of India’s Emergence: Beyond Securities Contracts (Regulation) Act, Evolving Regulations", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 3, page no.b733-b737, March-2025, Available :http://www.jetir.org/papers/JETIR2503182.pdf

"Securities and Exchange Board of India’s Emergence: Beyond Securities Contracts (Regulation) Act, Evolving Regulations", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 3, page no. ppb733-b737, March-2025, Available at : http://www.jetir.org/papers/JETIR2503182.pdf