Corporate Updates – 15-01-2016


In terms of Finance Act, 2015, the associations recognized under the erstwhile Forward Contracts (Regulation) Act, 1952 as on 28th September, 2015 are deemed to be recognized stock exchanges under the Securities Contracts (Regulation) Act, 1956. This circular applies to all such commodity derivatives exchanges as defined in the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2015. The erstwhile Forward Markets Commission (FMC), had directed commodity derivatives exchanges, who have suspended their trading operations, to refund clients margin money, resolve client disputes, refund members’ deposits and in case any exchange fails to revive their trading operations within 12 months from the date of suspension of trading, FMC had specified the steps that shall be initiated to cancel their registration and lead to withdrawal of recognition of such exchanges. SEBI has reviewed the said circular and has decided that, if there is no trading operation on the platform of any commodity derivatives exchanges for more than twelve months, then in terms of the above circular, such exchange shall be liable to exit. SEBI may impose additional conditions as deemed fit in the interest of trade or in the public interest including securities market.


All stakeholders are requested to note that services on the portal will not be available from 08:00 AM to 06:00 PM on Saturday, 16th January, 2016 due to periodic maintenance activities. While in the past, such activities may have been carried out after office hours, this time the maintenance activities are required to be carried out during the day since collaboration with other offices is required. All stakeholders are requested to plan their filing activities accordingly.

News from NIRC of ICSI

NIRC invites you to niro. Depending upon the response, ON the SPOT registration may not be allowed. PCH – 6.

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