INDIA: Securities and Exchange Board of India Issues Exit Order of Madras Stock Exchange Limited

Friday May 15 2015

On 14th May 2015, SEBI passed an order providing the exit to Madras Stock Exchange Limited (“MSE”). MSE is the fourteenth Stock Exchange to exit under this policy.

A SEBI Circular dated May 30, 2012 issued Guidelines for exit of stock exchanges. This contained details of the conditions for exit of de-recognised/non-operational stock exchanges interalia including treatment of assets of de-recognised/non-operational exchanges and a facility of Dissemination Board for companies listed exclusively on such exchanges, while taking care of the interest of Investors.

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