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of <h1>SEBI Orders Calcutta Stock Exchange to Amend Article 29, Remove Rs. 25,000 Fine Cap for Violations.</h1> The Securities and Exchange Board of India (SEBI) has mandated the Calcutta Stock Exchange Association Ltd. to amend Article 29 of its Articles of Association. The amendment involves removing the maximum fine limit of 'not exceeding Rs. 25,000' for erring members and instead imposing fines based on the nature and gravity of violations. Despite a 60-day compliance period following SEBI's order on September 12, 2001, the exchange has not made the required changes. Consequently, SEBI has exercised its authority under the Securities Contracts (Regulation) Act, 1956, to enforce this amendment.
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