Discussion
The powers of controllers of capital issues of India is now shifted to
Answer: B
Correct answer: SEBI
The office of the Controller of Capital Issues was abolished when the Capital Issues (Control) Act, 1947 was repealed in 1992, and its functions passed to the Securities and Exchange Board of India.
The change was a substantive one, not merely administrative. Under the CCI, companies needed government approval for an issue and for its pricing; under SEBI, pricing was freed and regulation shifted to disclosure - the issuer must tell investors everything material, and investors judge for themselves. AMFI is the mutual fund industry association and has no such statutory role.
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