Recognition renewal under statutory authority: one year grant allowing the exchange to operate in securities contracts after application. The securities regulator granted renewal of recognition to Saurashtra Kutch Stock Exchange Limited, Rajkot, permitting the Exchange to deal in contracts in securities for a one year period from 10 July 1997 to 9 July 1998, based on the statutory application and the regulator's satisfaction that renewal served the interest of trade and the public.