SEBI Manual

This book is the most updated & amended compendium of the annotated text of Acts, Rules, Regulations, Circulars, Master Circulars, etc., pertaining to SEBI & Securities Laws in India. It is unique because it includes all Circulars (including those that amend or clarify primary circulars), thus providing a complete & coherent picture.

The recent changes (from June 2024 ? Dec. 2024) in SEBI & Securities Law include:

40+ Amendments in Act/Rules/Regulations
10+ Updated/New Master Circulars
This book is helpful for lawyers and legal professionals specialising in securities law, compliance officers in financial institutions, and investors and analysts monitoring regulatory changes. It also benefits academic researchers and students in finance and law, policymakers and regulators in financial markets, and corporate executives and board members overseeing regulatory compliance.

The Present Publication is the 44th Edition | 2025 and amended upto 11th November 2024. This book is edited by Taxmann’s Editorial Board, with the following noteworthy features:

[Comprehensive Coverage] Presents annotated texts of critical legislations such as the SEBI Act, 1992, Securities Contracts (Regulation) Act, 1956, etc. accompanied by relevant rules, regulations, and circulars
[Unique Inclusivity of All Circulars] Incorporates every circular that either amends or clarifies primary circulars, ensuring a complete regulatory picture without fragmentation
[Complete Coherence] By merging the principal legislation, rules, and all relevant circulars (and sub-circulars) into one compendium, this book offers an unprecedented level of clarity and eliminates the risk of missing crucial regulatory updates
[Expert Editorial Analysis]
Curated by Taxmann’s Editorial Board, known for its clarity and accuracy, offering carefully cross-referenced footnotes and editorial notes
Recommended by many leading law firms, corporate counsel, and regulators, who rely on Taxmann’s hallmark of precision and reliability
[Comprehensive Indexing & Cross-References] In-depth subject index and arrangements of sections/regulations ensure you can locate specific clauses, rules, or circulars efficiently
[Annotated Format] Provides section-wise explanations, linking you to relevant rules, circulars, or clarifications, making legal provisions more comprehensible
The coverage of this book includes:

Annotated Text of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (as amended up to date), with the Master Circular for Issue of Capital and Disclosure Requirements
Annotated Text of SEBI Act, 1992 (as amended up to date) with SEBI Notifications
Securities Contracts (Regulation) Act, 1956 (as amended up to date) with Securities Contracts (Regulation) Rules, 1957, and the following:
Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2005
Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018
Master Circular for stock exchange and clearing corporations
Norms for sharing Real-Time Price Data to Third Parties
Framework for ‘Financial Disincentives for Surveillance Related Lapses’ at Market Infrastructure Institutions
Charges levied by Market Infrastructure Institutions ? True to label
Parameters for Performance Evaluation of Market Infrastructure Institutions
Extension of timelines for Implementation of SEBI Circular SEBI/HO/MIRSD/MIRSD-POD1/P/Cir/2024/75 dates 5th June 2024
Change in timing for securities payout in the activity schedule for T+1 rolling settlement
Association of persons regulated by the board and their agents with certain persons
Monitoring of position limits for equity derivative segment
Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognised Stock Exchanges) Regulations, 2006
Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Rules, 2000
Clarifications
70+ SEBI Rules/Regulations, 375+ Circulars/Notifications/Press Notes In-force, 35+ Master Circulars, and Operational Circular
Annotated Text of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) with the following:
Master Circular for compliance with the provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, by listed entities
Master Circular on
Scheme of arrangement by Listed Entities and
Relaxation under sub-rule (7) of Rule 19 of the Securities Contracts (Regulation) Rules, 1957
Relaxation from the requirement to furnish a copy of PAN for transfer of equity shares of Listed Entities executed by non-residents
Re-lodgement of transfer requests of shares
Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for an Entity with listed Non-Convertible Securities
Master Circular for Listing Obligations and Disclosure Requirements for Non-Convertible Securities, Securitised Debt Instruments and/or Commercial Paper
Extension of Timeline for verification of market rumours by listed entities
Limited relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Procedural framework for dealing with unclaimed amounts Lying with entities having listed Non-Convertible securities and Manner of claiming such amounts by Investors
Timelines for Disclosures by Social Enterprises on Social Stock Exchange (‘SSE’) for FY 2023-24
Listing Agreement for Indian Depository Receipts (IDRs)