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<h1>SEBI demands exchange justify its recognition status under Securities Contracts (Regulation) Rules, 1957. Response deadline set.</h1> The Securities and Exchange Board of India (SEBI) issues a notice to an exchange, requiring it to justify why its recognition should not be withdrawn. The notice, issued under the Securities Contracts (Regulation) Rules, 1957, mandates the exchange to respond by a specified date at the designated officer's office. The notice references the Ministry of Finance or SEBI notification and certificate numbers, detailing reasons for potential withdrawal in an annexure. This form, known as Form C, was updated through an amendment in 1996. The notice is issued officially in SEBI's name and bears its seal.