1. Whole Time Member, SEBI, has passed an Order on December 26, 2014 providing the exit to Bangalore Stock Exchange Limited (“BgSE”). BgSE is the seventh Stock Exchange to exit under this policy.
2. SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit of stock exchanges. This contained details of the conditions for exit of de-recognised/non-operational stock exchanges inter-alia including treatment of assets of de-recognised/non-operational exchanges and a facility of dissemination Board for companies listed exclusively on such exchanges, while taking care of the interest of Investors.
3. Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Karnataka are being intimated about the exit of BgSE, for appropriate action at their end.
4. The full text of the order is available in SEBI’s website: www.sebi.gov.in.
Mumbai
December 26, 2014
