The Securities and Exchange Board of India (SEBI) is the regulatory body that oversees the running of the stock markets of India. SEBI formulates and approves the by-laws of stock exchanges and periodically inspects the accounting books of the BSE, NSE and other stock exchanges in the country. It also holds power to constrain companies from being listed on any of the stock exchanges and can delist already listed companies as well. Furthermore, the SEBI regulates stockbroker registrations.