SEBI allows Vadodara Stock Exchange to exit stock business
Updated: Nov 10, 2015 04:41:48pm
New Delhi, Nov 10 (KNN) Markets regulator SEBI allowed Vadodara Stock Exchange to exit the stock bourse business.
More than two dozen bourses have been allowed by the market regulator to exit the capital markets space.
As per Sebi norms, a stock exchange, whose annual trading turnover on its platform is less than Rs 1,000 crore can apply for voluntary surrender of recognition and exit.
According to Sebi, Vadodara Stock Exchange Ltd (VSEL) had complied with the regulator's conditions for exit and is therefore "a fit case to allow exit" from capital markets.
SEBI said the VSEL had made payment of necessary dues to the regulator, including 10 per cent of the listing fee and the annual regulatory fee.
"From the valuation report and undertaking of the (VSEL), it is observed that all the known liabilities have been brought out and that there is no other future liability that is known as on date," Sebi said in its order yesterday. (KNN Bureau)
More than two dozen bourses have been allowed by the market regulator to exit the capital markets space.
As per Sebi norms, a stock exchange, whose annual trading turnover on its platform is less than Rs 1,000 crore can apply for voluntary surrender of recognition and exit.
According to Sebi, Vadodara Stock Exchange Ltd (VSEL) had complied with the regulator's conditions for exit and is therefore "a fit case to allow exit" from capital markets.
SEBI said the VSEL had made payment of necessary dues to the regulator, including 10 per cent of the listing fee and the annual regulatory fee.
"From the valuation report and undertaking of the (VSEL), it is observed that all the known liabilities have been brought out and that there is no other future liability that is known as on date," Sebi said in its order yesterday. (KNN Bureau)
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