Appointment of part-time SEBI member under Section 4(1)(d): Dr. G. Mohan Gopal named for a fixed tenure.
The Central Government, under sub-section (1) of Section 4 of the Securities and Exchange Board of India Act, 1992 and the Rules on terms and conditions of service, appoints Dr. G. Mohan Gopal, Director, National Judicial Academy, Bhopal, as a part-time member of the Securities and Exchange Board of India for a fixed tenure commencing on the date specified in the notification or until further orders, whichever is earlier, issued by official notification and authorised by the joint secretary.

Corporatisation and demutualisation: appointed dates designated following statutory compliance, confirming corporate conversion of specified stock exchanges.
SEBI confirms that each named stock exchange satisfied statutory compliance for corporatisation and demutualisation under the Securities Contracts (Regulation) Act and completed conversion on the recorded dates, and SEBI designates those completion dates as the appointed date for the respective exchanges.

Delivery-based trading requirement limits FIIs to actual delivery; short selling and securities lending allowed under Board frameworks.
Amendments to regulation 15 require foreign institutional investors and sub-accounts to transact in Indian securities only on the basis of taking and giving delivery, except for derivatives on recognised exchanges, and permit short selling only under a Board-specified framework; sub-regulation (8) is replaced to authorize securities lending and borrowing solely in accordance with a Board-specified framework.

Renewal of recognition under the Securities Contracts (Regulation) Act granted to Inter Connected Stock Exchange, subject to regulatory conditions.
Renewal of recognition is granted to the Inter Connected Stock Exchange of India Limited under section 4 of the Securities Contracts (Regulation) Act, 1956 for one year from 18th November, 2007 to 17th November, 2008 in respect of contracts in securities, subject to conditions that may be prescribed or imposed.

Index fund scheme regulation permits securities lending, short selling and exchange-traded derivatives subject to regulatory frameworks.
Amendments define an index fund scheme and impose caps on its investment/advisory fees and total expenses. Scheme funds are prohibited from carry forward transactions but may enter into derivatives on recognized exchanges and may engage in short selling and securities lending and borrowing, each subject to the Board's specified frameworks. Mutual funds must generally trade on a delivery basis, with express exceptions permitting short selling and exchange traded derivatives under the Board's frameworks.

Certification of Associated Persons mandates a regulatory certification regime for persons engaged in securities market activities.
Notification establishes the Certification of Associated Persons in the Securities Markets) Regulations, 2007, issued under the statutory powers conferred by the securities law, creating a certification regime applicable to persons associated with securities market activities and enabling the regulator to prescribe requirements, procedures and compliance obligations for certification under its delegated authority.

Renewal of recognition of a stock exchange permitted, conditional on operational Settlement/Trade Guarantee Fund approval by the regulator.
Renewal of recognition of Cochin Stock Exchange Ltd. is granted for one year in respect of contracts in securities, subject to conditions including that trading shall commence only after the operationalisation of a Settlement Guarantee Fund/Trade Guarantee Fund duly approved by the regulator.

Strategic Business Unit permission allows depositories to undertake regulator-assigned non-incidental activities with Board approval.
A depository may carry out activities not incidental to its depository functions if assigned by the Central Government or a financial-sector regulator, by establishing Strategic Business Unit(s) specific to each activity with prior Board approval and subject to Board-prescribed conditions, including possible transfer of the activity to a separate company within a specified time; a Strategic Business Unit is an organisational unit with its own mission, objectives and business strategy, and appropriate technological, financial and other segregations.

Corporatisation and demutualisation: appointed dates designated after stock exchanges confirmed statutory compliance.
Approval is recorded of the Scheme for corporatisation and demutualisation of several regional stock exchanges, with specified dates on which each exchange satisfied the statutory compliance requirement indicating completion of conversion. Pursuant to statutory authority, SEBI designates those dates as the appointed date for each exchange, thereby fixing when the corporatisation and demutualisation framework takes effect following confirmation of compliance.

Administrator appointment to oversee demutualised exchange transition and exercise committee powers during supersession.
SEBI appointed an Administrator to manage the Calcutta Stock Exchange during supersession after demutualisation; the Administrator replaces the prior incumbent, is vested with all powers and duties of the Committee for the period of supersession, may take assistance as necessary, and will oversee formation of a Governing Board to effect the exchange's governance transition under SEBI's regulatory authority.

Corporatisation and demutualisation: SEBI designates compliance dates as appointed dates for specified stock exchanges under SCRA provision.
SEBI approved and published a Scheme of corporatisation and demutualisation and, upon receipt of confirmations that listed stock exchanges had complied with statutory requirements and completed corporatisation and demutualisation, SEBI appoints the confirmed dates as the appointed date for each exchange under the relevant provisions of the Securities Contracts (Regulation) Act.

Refusal to renew recognition: regulatory non compliance and governance failures lead to derecognition and protective directions.
SEBI refused to renew recognition of Magadh Stock Exchange Limited due to repeated regulatory non compliance, governance and financial deficiencies, and operation contrary to SEBI directives. Inspections revealed absence of a full time Executive Director, pervasive shortfalls and improperly composed Base Minimum Capital, failure to create and segregate an Investor Protection Fund as a Trust, non inspection of members' books, non recovery of dues, commencement of trading without an approved Settlement Guarantee/Trade Guarantee Fund, delayed corporatisation and demutualization, inadequate clearing and settlement arrangements and insufficient manpower and surveillance. SEBI directed transfer of investor funds to the SEBI Investor Protection and Education Fund, repayment of outstanding refundable support, protection of pending claims, de registration consequences for members, and restraint on asset transfers.

Renewal of recognition under Securities Contracts (Regulation) Act grants continued status to Pune Stock Exchange subject to conditions.
SEBI, satisfied that renewal would serve the trade and public interest, renews recognition of Pune Stock Exchange Limited under section 4 of the Securities Contracts (Regulation) Act, 1956 for the period commencing 2nd September, 2007 and ending 1st September, 2008, in respect of contracts in securities, subject to conditions that may be prescribed or imposed hereafter.

Acceptance of resignation: central government accepts a part time securities regulator member's resignation, effective as notified.
The Central Government accepts the resignation of Dr. Ashok K. Lahiri from the office of part-time Member of the securities regulator under the authority of Sub section (2) of Section 5 of the Act read with the Rules governing terms and conditions of members; the acceptance is notified as taking effect from 21 July 2007 by a Ministry notification dated 3 August 2007.

Renewal of recognition granted to OTC Exchange under Securities Contracts Regulation Act, permitting one year operation subject to prescribed conditions.
Renewal of recognition has been granted to OTC Exchange of India under the Securities Contracts (Regulation) Act, 1956 for a one-year period commencing 23rd August, 2007 and ending 22nd August, 2008, subject to conditions that may be prescribed or imposed subsequently.

Withdrawal of recognition of a stock exchange for systemic governance, risk and settlement failures, triggering asset and member consequences.
Withdrawal of recognition rests on pervasive non-compliance with regulatory obligations, governance failures and operational inactivity: failure to establish an approved Settlement Guarantee Fund, deficient appointment and empowerment of executive management for the exchange and its subsidiary, absence or untested status of T+2 rolling settlement and related trading software, inadequate supervision and half-yearly inspection of the subsidiary, insufficient recovery of member and listing dues, and material breaches of financial delegation and member discipline norms undermining settlement integrity and investor protection.

Appointed date recognition for stock exchange corporatisation established; succession and demutualisation formally acknowledged by regulator.
SEBI approved a Scheme for 'The Stock Exchange, Mumbai' and Bombay Stock Exchange Limited succeeded that exchange under the Scheme. Bombay Stock Exchange Limited completed corporatisation and demutualisation and ensured compliance with Section 4B(8) of the Securities Contracts (Regulation) Act. Exercising powers under the Act, SEBI appoints the relevant date as the appointed date for Bombay Stock Exchange Limited, formally recognizing succession and the operative commencement of the corporate entity under the Scheme.

Correction of monetary thresholds updates previously published notification language to higher and corrected financial thresholds.
Corrigendum to the Gazette notification dated 29 May 2007 replaces three textual monetary references on page 3: it amends a lower monetary bracket to a higher bracket, corrects a misprinted monetary expression to the intended larger amount, and replaces an overstated upper bracket with the corrected upper bracket, effecting only textual and threshold clarifications.

Corrigendum corrects notified monetary amount in SEBI notification, replacing the originally published figure with a revised figure.
SEBI issued a corrigendum to Notification No. S.O. 1454(E) (7 September 2006) directing that the monetary figure printed at page 83, line 13 of the Gazette notification be read as the revised figure, thereby making a formal textual correction to the published notification.

Renewal of recognition granted to Uttar Pradesh Stock Exchange Association Limited under SCRA, permitting operations subject to prescribed conditions.
SEBI granted renewal of recognition to the Uttar Pradesh Stock Exchange Association Limited under the Securities Contracts (Regulation) Act for a one-year period commencing in early June 2007 and ending in early June 2008, authorising contracts in securities and making the renewal subject to any conditions that may be prescribed or imposed subsequently.