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February 16, 2006
PR No.
105/2006
SEBI directs Cochin Stock Exchange Ltd. to be more vigilant and cautious in discharge of its functions Securities and Exchange Board of India (SEBI) had issued a Show Cause Notice to the Governing Board of the Cochin Stock Exchange Ltd. (CoSE) for its non-compliance of observations/suggestions mentioned in the inspection report of October 2004. SEBI, after considering the written reply of the exchange, its oral submissions and on receipt of the compliance report from the exchange, has directed the Governing Board of the CoSE to submit a compliance report with respect to the observations/ suggestions which have not been complied with, within three months from the date of the order to the satisfaction of SEBI. It will be open to SEBI to take appropriate action and even reopen the issue, if necessary, against the CoSE or its Governing Board, if SEBI is not satisfied with the compliances of the suggestions made in the inspection report .
SEBI has further directed, the Governing Board to be more vigilant, cautious and careful in future in discharge of its functions as a self-regulatory organisation.
The order has been passed on February 02, 2006.
Mumbai
February 16, 2006
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