Q$1.$ Mr Raman is one of the director in XYZ ltd company $.$The company is engaged in hotel sector $,$which has recently witnessed a steady downfall in its revenue and value of its assets due to a downward trend persisting in the market. The periodical financial result of the company

were to be declared in the fortnight time. Mr$.$ Raman being an insider, had to access to unpublished price sensitive information related to it$.$ Consequently, he sells the major portion of his holding in an anticipation of fall in the market price of the shares of the company subsequent to announcement of periodical financial result of the company. On conducting a probe, SEBI finds Mr$.$ Raman guilty of insider is trading.

In context to the above case $$ State the importance of SEBI and its various functions. Subject$($Financial Institutions and Markets$)$