The stock market is the structure where a lot of money of a lot of people are involved. When there is money involved, people become wolfish & greedy that increases the risk of malpractices. India has witnessed such twisted practices before.

To avoid such fraudulent practices & make the market a fair place, the stock market requires someone who can set specific rules & make the market participants follow those rules. Thus, there comes a role of regulators

Who is the regulator?

The SEBI Securities Exchange Board of India is the statutory regulatory body for the security markets in India.
The primary objectives of SEBI are- to monitor the working of the security market, protect the interests of investors, & boost the development of the stock market.