Govt withdraws recognition of Delhi Stock Exchange

By | March 18, 2016

NOTIFICATION NO. SO 1102(E) [F.NO.1/14/SM/2015], DATED 15-3-2016

Whereas the Securities and Exchange Board of India, vide notification number SEBI/MRD/ 48107/2005 dated the 29th August, 2005, notified the Delhi Stock Exchange Limited (Corporatisation and Demutualisation) Scheme, 2005 in terms of section 4B and the Securities Contracts (Regulation) Act, 1956 (42 of 1956);

2. And whereas sub-section (2) of section 5 of the said Act provides that where a recognised stock exchange has not been corporatised and demutualised within the specified time, the recognition granted to such stock exchange under section 4 stands withdrawn;

3. And whereas the Delhi Stock Exchange Limited has failed to be demutualised within the specified time, i.e., on or before the 28th August, 2007.

4. Now, therefore, in exercise of the powers conferred under sub-section (2) of section 5 of the Securities Contracts (Regulation) Act, 1956, the Central Government hereby notifies that, the recognition granted to the Delhi Stock Exchange Limited under section 4 of the said Act stands withdrawn.

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