India is growing leaps and bounds in terms of its economic growth. A sustainable economic growth requires a robust and sound financial system in any polity. In the contemporary world, the function of government does not involve business or commercial activity except in some cases which would be prerogative of State to determine. A free market is quintessential for a free economy. Therefore, it is inevitable that private players will have a large role to play in the commercial and business activity of India. India remained a closed economy for some inexplicable reasons even in eighties, whereas China opened its market for the world in the very beginning of the eighties despite being a communist state. The timely decision of the China led to the growth of Chinese economy, which created a yawning gap to the size of these two fastest growing economies of the world. The significance of ever growing Indian economy can be gazed by the fact the Global GDP of the first three months of the year 2015 grew by 2.7%, and 80 percent of this growth was contributed by three economies of the world namely China, India and the USA. In order to continue as growth engine for the world GDP, India must have a robust and comprehensive financial market in place. 1991 is a watershed year for the Indian economy since the year saw the tectonic shift in economic policy of Indian Government, and consequently market liberalization was embraced by the policy makers by rejecting the principle of close and planned economy. The opening of Indian Economy was implemented through the three-pronged scheme of liberalization, privatization and globalization. The liberalization and opening of economy ensured the end of dreaded license raj in India. India was poised to become a free economy based on free market. Free market warrants a comprehensive system for financing the commerce by private players as well as public players. New enterprises need entrepreneurs and investors. The traditional approach for arranging capital for any new commercial activities required debt as a means to finance new business, however, debts alone could not have provide for financing of many enterprises because of its limited resources. Capital Market or securities market provides for an alternative to the traditional and sole method of financing of business. It is a platform that connects the society to business. Since, there is no insulation between the society and business activity of entrepreneur, society was to receive all the effects on it directly, good or bad. Any bad effect would hurt the emotional sentiments of the investors and it may drive them and others away from the realm of business activity. Thus, it was always wise to insulate or provide some sort of resistive mechanism to protect investor and their interests, which will trip the circuit in case of trouble. The challenge was to keep the market free and competitive and yet protect the investors, investment and the market by keeping a check on the activity of free market. The need was insulation of public from market and not isolation. Post opening up of the Indian economy the need for the same became all the way more vital and important. The whole outlook with which capital was gauged in Indian society and by the bureaucracy was changed. This led to a flood of legislative, executive and judicial activity to fine tune the Indian market at par with its international counterpart. Technological advancement and its implementation in the financial market became a game changer as it reduced the time involved in the issue, creation and allotment of securities. Legislative intervention became necessary to adapt to the application of new technologies in the capital market. India witnessed enactment of two major laws to oil the functioning of gigantic and developing financial market in India hitherto, they were Security and Exchange Board of India, 1992 (SEBI Act) and Depositories Act, 1996. These two laws and Securities Contracts (Regulations) Act, 1956(SCRA) provided for the basic structure and framework and carved out the silhouette within which the modern capital market of India needed to function. The laws so enacted are growing in their experience and are supplemented by the regulations made by the watchdog of capital market. The book is an attempt to summarize the quintessential features of capital market and how the troika of law pertaining thereto is functioning.