Name Title Company Name

Chief regulator of forwards and futures markets in India. Headquartered at Mumbai Regulatory authority overseen by the Ministry of Finance, Govt. of India. Set up in 1953 under the Forward Contracts Regulation) Act, 1952.

2-4 members appointed by Central Govt. Central Govt nominates a Chairperson among these members. Shri. Ramesh Abhishekh (IAS) is the current chairperson.

In order to prevent undesirable transactions and to regulate the working of stock exchange SCRA was enacted in 1956. Came into force on 20th February 1957. Applies to the whole of India.

The Securities Contracts (Regulation) Act,1956 provides that only those stock exchanges which are granted recognition by the Central government can function in India. No person shall, except with the permission of the Central Government, organise or assist in organising or be a member of any stock exchange (other than a recognised stock exchange) for the purpose of assisting in, entering into or performing any contracts in securities.

Procedure regarding formation of recognised stock exchanges. Norms regarding working of recognised stock exchanges. Specifies power of central government and recognised stock exchanges to make bye-laws or guidelines. Provides SEBI power to make or amend byelaws of recognised stock exchanges. Lists out all the guidelines regarding trade and its settlement and clearing.

Act specifies the guidelines regarding contracts and options in securities. Rules and regulations regarding derivatives contract, spot contracts are also mentioned. Conditions for listing and delisting of securities. Securities Appellate Tribunal. Penalties. Entitled to receive dividends from shares and mutual funds.

Corporate bodies established under the respective State Agricultural produce Marketing Regulations Acts They are elected by the government from amongst representatives of agriculturists, traders and other functionaries and local representatives. Market committees are either controlled by director of Agricultural Marketing or state Marketing Board. States like Delhi, UP, MP, WB, Maharashtra etc. have separate marketing department. No person or agency is allowed freely to carry on wholesale marketing activities.

Development of agricultural sector as it provides outlets and incentives for increased production. Contribute greatly to the commercialization of subsistence farmer. Worldwide governments have recognized the importance of liberalized agricultural markets. Promotion of new and competitive agricultural market in private cooperative sectors. Linkage between the farm production and retail chains.

To ensure the easy availability of essential commodities to consumers

To protect consumers from exploitation by unscrupulous traders

For the regulation and control of production, distribution and pricing of commodities which are declared as essential for
Maintaining or increasing supplies Securing their equitable distribution Securing availability at fair prices

Section 3 Power of Central Government Regulate or prohibit the production, supply and distribution, trade and commerce of any essential commodity Regulate by licenses, permits or otherwise: The production or manufacture of any essential commodity Storage, transport, distribution, disposal, acquisition, consumption Cultivate food crops on any waste land Prohibit the withholding from sale of any essential commodity ordinarily kept for sale

Essential Commodities are declared by the Central Government. Implemented by the State Governments and Union Territories Delegated Powers under the Act.

At present: Only 7 broad categories Drugs; Fertilizer, inorganic, organic or mixed; Foodstuffs, including edible oilseeds and oils; Hank yarn made wholly from cotton; Petroleum and petroleum products; Raw jute and jute textile; Seeds:
Seeds of food-crops and seeds of fruits and vegetables; Seeds of cattle fodder; Jute seeds. Recently cotton seed was also included in the list

Introduced on August 9, 2010 Seeks to amend the Essential Commodities Act, 1955 to clarify the price payable for levy sugar (procured for Public Distribution System). The amendments made were as follows: The central government, while procuring levy sugar, would not pay any price in excess of that calculated on the basis of the Minimum Price (SMP) for sugarcane set by the central government. It also amended the price to be paid to sugar producers by the central government for procuring levy sugar. It specified that the price of sugar will be based on the Fair and Remunerative Price (FRP) fixed for sugarcane, and will include the manufacturing cost, duties, taxes and reasonable rate of return.

They hamper the market from performing its productive and commercial role. A large number of permits and licenses are required to be obtained from the authorities under the Essential Commodities Act and periodically returns have to be submitted and inspections carried out, which add to transaction costs. Some notifications under the Act restrict movement of goods from the surplus states to deficit states. These controls and restrictions, which include the ever present threat of arrest, act as disincentives to production and distribution of essential commodities by organised companies.

An act to provide for detention in certain cases for the purpose of prevention of black marketing and maintenance of supplies of essential commodities

If someone hoards and black markets the essential commodity, one can file the report. As per report received from the state government, 119 detention order were issued under the act.

It deals in any commodity(i) which is an essential commodity as defined

in the Essential Commodities Act, 1955 (ii) with respect to which provisions have been made in any such other law as is referred to in clause (iii) with a view to making gain in any manner which may directly or indirectly defeat or tend to defeat the provisions of that Act

Aryaa Padwal Neeraj Kamerkar Devina Falke Roshni Shirsat Kunal Chudasama Sheshal Palav Tanvi Sawant

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