Shares of Asian Painting Ltd. are listed for trading on a stock exchange. There was sudden rise in share prices of the company. On enquiry by SEBI, it was revealed that share prices were rigged by some share broker in connivance with the director of the company. SEBI cancelled the registration of the broker and fined t 50 lakh on director to be used for the welfare of the investors.
(a) State tire function of SEBI undertaken.
(b) Mention the values observed by SEBI.