Corporate Updates – 10-06-2015

Company Law Board:

Justice Shri D.R. Deshmukh, Chairman, CLB, has retire from the Board as Chairman Company Law Board on the afternoon of 5th June, 2015. Hon’bleChief Justice Shri Mahesh Mittal Kumar took over charge as Chairman, Company Law Board on 5th June, 2015. Before joining as Chairman, Company Law Board Hon’ble Chief Justice Shri Mahesh Mittal Kumar was Chief Justice of the Jammu and Kashmir High Court.


SEBI has passed orders to provide Exit to the Madhya Pradesh Stock Exchange Limited (MPSE) under the current policy. 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. Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Madhya Pradesh are being intimated about the exit of MPSE, for appropriate action at their end.

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