Order under section 4B (6) read with Section 4B (7) of the Securities Contracts (Regulation) Act, 1956 in the matter of the Pune Stock Exchange Limited (Corporatisation and Demutualisation) Scheme, 2005. - S.O. No.1202(E) - SEBI/MRD/48109/2005

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<h1>SEBI Approves Scheme for Pune Stock Exchange: Ownership Restructuring, Voting Rights Limits, and Public Shareholding Mandates.</h1> The Securities and Exchange Board of India (SEBI) approved the corporatisation and demutualisation scheme for Pune Stock Exchange Limited (PSE), transforming it from a company limited by guarantee to one limited by shares. The scheme mandates the segregation of ownership and management from trading rights, limits voting rights of trading members, and outlines the composition of the Governing Board. PSE must ensure public ownership of at least 51% of its equity shares and comply with specified timelines and reporting requirements. SEBI reserves the right to amend the scheme to serve trade and public interests, and the scheme becomes effective upon publication in the Official Gazette.

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