Exit policy for stock exchanges mandates voluntary surrender or compulsory de-recognition with dissemination board and asset-distribution safeguards. The circular sets a regulatory framework for voluntary surrender and compulsory de-recognition of stock exchanges, mandates transfer or exit processes for exclusively listed companies including relocation to other exchanges or to a dissemination board, and prescribes asset valuation, distribution constraints and required contributions to the regulator's investor protection fund. It requires prior approval before alienation of assets, payment of statutory dues and provisioning for pending arbitration awards and unresolved investor complaints, while enabling trading members access through subsidiary broking entities and permitting SEBI to impose additional conditions in the public interest.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exit policy for stock exchanges mandates voluntary surrender or compulsory de-recognition with dissemination board and asset-distribution safeguards.
The circular sets a regulatory framework for voluntary surrender and compulsory de-recognition of stock exchanges, mandates transfer or exit processes for exclusively listed companies including relocation to other exchanges or to a dissemination board, and prescribes asset valuation, distribution constraints and required contributions to the regulator's investor protection fund. It requires prior approval before alienation of assets, payment of statutory dues and provisioning for pending arbitration awards and unresolved investor complaints, while enabling trading members access through subsidiary broking entities and permitting SEBI to impose additional conditions in the public interest.
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