Renewal of recognition to Magadh Stock Exchange Association, Patna - F.No SEBI/LE/3379/04

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<h1>SEBI Renews Magadh Stock Exchange Recognition for One Year; Conditions Include Guarantee Fund Setup and Payment by December 2004.</h1> The Securities and Exchange Board of India (SEBI) has renewed the recognition of the Magadh Stock Exchange Association, located in Patna, for one year from December 11, 2003, to December 10, 2004. This renewal is under the Securities Contracts (Regulation) Act, 1956, and is deemed beneficial for trade and public interest. Conditions for this renewal include the establishment of a Settlement Guarantee Fund or Trade Guarantee Fund with SEBI's approval and the payment of a balance amount of Rs. 11,31,768 by December 1, 2004, regarding refundable financial support provided by SEBI.

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