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of <h1>SEBI established as statutory body corporate with perpetual succession and comprehensive legal powers</h1> The Securities and Exchange Board of India Act, 1992 establishes SEBI as a statutory body corporate with perpetual succession and common seal. The Central Government appoints the effective date through notification. SEBI has powers to acquire, hold, and dispose of movable and immovable property, enter contracts, and sue or be sued. The head office is located in Bombay, with authority to establish additional offices throughout India.
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