Whole Time Member, SEBI, has passed an Order dated November 09, 2015 providing the exit to Vadodara Stock Exchange Limited (“VSEL”). VSEL is the seventeenth Stock Exchange to exit under this policy.
SEBI vide Circular dated May 30, 2012 had issued the 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.
Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Gujarat are being intimated about the exit of VSEL, for appropriate action at their end.
The full text of the order is available on the website: www.sebi.gov.in
November 10, 2015