Corporatisation and demutualisation of stock exchange approved; requires segregation of trading rights, public shareholding and voting cap. SEBI approved a scheme for corporatisation and demutualisation requiring re-registration of the exchange as a company limited by shares, segregation of ownership and trading rights, vesting of all assets and liabilities in the successor company, allotment of equity shares to identified members, limits on trading-member representation on the Governing Board, uniform standards for admission as Trading Members, transitional clearing arrangements pending transfer to a clearing corporation, mandated public shareholding and voting restrictions for trading-member shareholders, embedding of scheme provisions in constitutional documents, and ongoing compliance and reporting to SEBI.