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

Friday May 15 2015

News Source: Global Exchanges

Focus: General - Global Exchanges

Type: General

Country: India

Link: http://www.sebi.gov.in/sebiweb/home/document_detail.jsp?link=http://www.sebi.gov.in/cms/sebi_data/docfiles/31070_t.html

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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