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Calcutta Stock Exchange Seeks Voluntary Exit
9 Mar
Summary
- Sebi is reviewing the Calcutta Stock Exchange's voluntary exit application.
- Trading on the CSE platform ceased in April 2013.
- CSE missed deadlines for regulatory compliance, prompting exit plea.
The capital market regulator, Sebi, is currently examining the application submitted by the Calcutta Stock Exchange (CSE) for a voluntary exit from its operations. This review process involves the constitution of a Working Group by Sebi and the appointment of a valuation agency to meticulously assess CSE's assets and liabilities.
Information from CSE is still pending with Sebi, which will issue a final order after considering factors like exclusively listed companies, financial status, and any necessary regulatory relaxations. Trading on the CSE platform has been inactive since April 2013.
Previously, the Calcutta High Court had granted CSE extensions to comply with regulations concerning clearing corporations and net worth. However, the exchange failed to meet these stipulated requirements within the given timeframe, leading to its formal application for exit on February 18, 2025.
