SEBI, the market regulator, announced that it had revoked the Indian Commodity Exchange Limited’s (ICEX) recognition. The bourse’s recognition was revoked after Sebi issued an order declaring it non-compliant on many grounds, including net worth and infrastructure criteria. As a result of the withdrawal, ICEX has been directed to transfer the funds in its Investor Protection Fund and Investor Services Fund to the Investor Protection and Education Fund of Sebi.
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