Govt Withdraws Recognition of Delhi Stock Exchange

The government has formally withdrawn the recognition of Delhi Stock Exchange (DSE) after it was derecognised by markets regulator Sebi in November 2014 for “serious irregularities” in its functioning. The DSE board had overlooked the “due transfer of shares in demat accounts and receipt of funds by the appointed date”, the Sebi order had said. DSE was incorporated in 1947.

Under certain provisions of the Securities Contracts (Regulation) Act, 1956, the recognition to a recognised stock exchange can be withdrawn if it “has not been corporatised and demutualised within the specified time.

Extra info:
  • Delhi Stock Exchange (DSE) is located in New Delhi, India. It was incorporated on 25 June 1947. The exchange is an amalgamation of Delhi Stock and Share Brokers’ Association Limited and the Delhi Stocks and Shares Exchange Limited. It is India’s fifth exchange. The exchange is one of the premier stock exchanges in India. The Delhi Stock Exchange is well connected to 50 cities with terminals in North India.
  • SEBI Chairman – U.K. Sinha

So lets do:
  • Who is the Chairman of SEBI?
  • Recently Govt withdraws the recognition of which Stock Exchange?

Source – The Hindu


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