SEBI permits Indian Commodity Exchange to shut down business
This story was originally published at 17:47 IST on 10 December 2024
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--SEBI allows Indian Commodity Exchange to shut operations
MUMBAI – The Securities and Exchange Board of India Tuesday allowed the Indian Commodity Exchange Ltd (ICEX) to exit as a stock exchange, consequently withdrawing the recognition granted to it, the market regulator said in a release.
The exchange had put in a request to SEBI on Aug. 4, 2023, to let it exit as a stock exchange. It had notified the regulator that the shareholders of ICEX had approved the voluntary surrender of the recognition granted to the exchange.
SEBI in its order stated that the exchange had complied with the conditions for its exit as per the SEBI Master Circular on the commodity derivatives segment. There are no arbitration disputes and investor complaints pending against it. ICEX has also undertaken to resolve any complaints and arbitration cases that come within the law of limitations as applicable to securities trading. End
Reported by Sandeep Sinha
Edited by Rajeev Pai
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