Corporate Updates – 10-02-2015


SEBI has passed orders to provide Exit to the Bhubaneswar Stock Exchange Limited (BhSE) under the current policy. BhSE is the Tenth Stock Exchange to exit under this policy. SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit ofstock 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. Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Odisha are being intimated about the exit of BhSE, for appropriate action at their end.


RBI has amended "Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998" for spelling out the rating symbols used by different Rating Agencies for signifying Minimum Investment Grade for long term fixed deposit products. Accordingly, the rating FBBB would now be the equivalent of Minimum Investment Grade for long term fixed deposit products and shall stand amended with immediate effect.

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