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of <h1>SEBI Approves Exit of Indian Commodity Exchange, Withdraws Recognition as Stock Exchange Effective Upon Gazette Notification.</h1> The Securities and Exchange Board of India (SEBI) has permitted the exit of the Indian Commodity Exchange Limited as a stock exchange and has withdrawn its recognition. Initially recognized under the Forward Contracts (Regulation) Act, 1952, the exchange became a deemed recognized stock exchange under the Securities Contracts (Regulation) Act, 1956. SEBI had previously withdrawn its recognition in May 2022, which was contested and set aside by the Securities Appellate Tribunal. Following a request from the exchange, SEBI issued an order on December 10, 2024, allowing its exit, effective upon notification in the Official Gazette.
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