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of <h1>SEBI Renews Magadh Stock Exchange's Recognition for One Year; Conditions Include Settlement Fund and Refund of Financial Support.</h1> The Securities and Exchange Board of India (SEBI) has renewed the recognition of the Magadh Stock Exchange Association in Patna for one year, from December 11, 2004, to December 10, 2005. This decision, under the Securities Contracts (Regulation) Act, 1956, is deemed beneficial for trade and public interest. Conditions include establishing a Settlement Guarantee Fund in compliance with a SEBI circular and commencing trading post-approval. Additionally, the exchange must repay Rs. 7,50,000 as refundable financial support previously extended by SEBI.
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