Returns and reports
Section 18 of the Securities and Exchange Board of India Act, 1992 deals with returns and reports. The Board shall furnish to the Central Government at such time and in such form and manner as may be prescribed or as the Central Government may direct, such returns and statements and such particulars in regard to any proposed or existing programme for the promotion and development of the securitie The Act came into force on 30 Jan 1992.
(1) The Board shall furnish to the Central Government at such time and in such form and manner as may be prescribed or as the Central Government may direct, such returns and statements and such particulars in regard to any proposed or existing programme for the promotion and development of the securities market, as the Central Government may, from time to time, require.
(2) Without prejudice to the provisions of sub-section (1), the Board shall, within 1[ ninety days] after the end of each financial year, submit to the Central Government a report in such form, as may be prescribed, giving a true and full account of its activities, policy and programmes during the previous financial year.
(3) A copy of the report received under sub-section (2) shall be laid, as soon as may be after it is received, before each House of Parliament.
Section 18, The Securities and Exchange Board of India Act, 1992 (Act 15 of 1992).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 1
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
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Areez Phirozsha Khambatta vs Securities Exchange Board of India
Court's Decision & Legal Precedent
In the context of mutual fund scheme closures involving unclaimed investor amounts, the Supreme Court will approve the winding up process when: (a) the regulatory framework established by SEBI for handling such closures is comprehensive and investor-protective; (b) the asset management company undertakes to comply with all SEBI requirements through formal undertakings; (c) unclaimed amounts are systematically transferred to the mutual fund pursuant to established regulatory procedures; and (d) further disputes regarding investor grievances are directed to specialized regulatory appellate forums such as the Securities Appellate Tribunal rather than extended Supreme Court litigation. The Court will give significant weight to regulatory consensus (SEBI and the company acting together) in determining appropriate resolution mechanisms.
On this section: Court's appellate jurisdiction over SEBI decisions and regulatory matters pertaining to mutual funds and investor protection
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Made under this section, and citing it
2 instruments state that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
Questions about Section 18
What have the courts held on Section 18 of the Securities and Exchange Board of India Act?
Areez Phirozsha Khambatta vs Securities Exchange Board of India (24 Jul 2024) is the leading judgment on this section among those set out below: Court's appellate jurisdiction over SEBI decisions and regulatory matters pertaining to mutual funds and investor protection.
How do I find court cases under Section 18 of the Securities and Exchange Board of India Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Sebi Act 18, section 18 Sebi Act, section 18 of the Securities and Exchange Board of India Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Areez Phirozsha Khambatta vs Securities Exchange Board of India (24 Jul 2024).
What should I read with Section 18 of the Securities and Exchange Board of India Act, and has it changed?
1 other provision in this corpus refers back to it. The rules and notifications made under it are where it actually bites, and there are 2: most recently SEBI (Annual Report) Rules, 1994 (1994), then he Securities and Exchange Board of India (Annual Report) Rules, 1994. (1994).
When did Section 18 of the Securities and Exchange Board of India Act come into force?
Section 18 of the Securities and Exchange Board of India Act, cited as Sebi Act 18, came into force on 30 Jan 1992, having been enacted on 04 Apr 1992. It is in force as at the date shown on this page.
Other sections of this Act
- 11. Functions of Board1315 words
- 11C. Investigation1145 words
- 12. Registration of stock-brokers, sub-brokers, share transfer agents, etc678 words
- 28A. Recovery of amounts629 words
- 15U. Procedure and powers of the Securities Appellate Tribunal494 words
- 15D. Penalty for certain defaults in case of mutual funds464 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 18 Oct 2026. This page is not a substitute for legal advice.