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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 21-NOV-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

STOCK EXCHANGES: DID NOT SET UP SETTLEMENT GUARANTEE FUND

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person INDIAN COMMODITY EXCHANGE LTD.

(PAN:AABCI9479D)  
  DID NOT ADHERE TO NET WORTH REQUIREMENT

DID NOT SET UP SETTLEMENT GUARANTEE FUND

DID NOT ADHERE TO VARIOUS SEBI CIRCULARS

DID NOT ADHERE TO OBSERVATIONS/SUGGESTIONS POINTED OUT IN THE INSPECTION CARRIED OUT BY SEBI

DID NOT HAVE REQUISITE INFRASTRUCTURE TO COMPLY WITH FOR ORDERLY EXECUTION OF TRADES ON ITS PLATFORM  		RECOGNITION OF STOCK EXCHANGE WITHDRAWN

CEASED TO BE RECOGNIZED STOCK EXCHANGE

DIRECTED TO TRANSFER MONEY AVAILABLE IN INVESTOR PROTECTION FUND AND INVESTOR SERVICES FUND LYING UNUTILIZED TO SEBI INVESTOR PROTECTION AND EDUCATION FUND

DIRECTED TO SET ASIDE SUFFICIENT FUNDS TO PROVIDE SETTLEMENT OF ANY CLAIMS

DIRECTED TO PAY OUTSTANDING DUES AND ANNUAL REGULATORY FEES INCLUDING BALANCE IN ACCOUNTTO SEBI

DIRECTED TO PAY REGISTRATION FEES TO SEBI

DIRECTED TO REFRAIN FROM USING THE EXPRESSION “STOCK EXCHANGE” OR ANY VARIANT IN ITS NAME OR SUBSIDIARY COMPANY’S NAME

10-MAY-2022 		SAT: SAT VIDE ITS ORDER DATED 13/06/2022 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 10/05/2022 AND SET ASIDE DIRECTION OF SEBI NOTIFYING PERMANENT WITHDRAWAL OF RECOGNITION GRANTED TO THE APPELLANT
2 
History of entity/person SAURASHTRA KUTCH STOCK EXCHANGE LTD.  
  FAILED TO APPOINT EXECUTIVE DIRECTOR AT THE EXCHANGE

INADEQUATE INFRASTRUCTURE FACILITIES AVAILABLE WITH THE EXCHANGE

DID NOT RECOVER DUES FROM MEMBERS

DID NOT SET UP SETTLEMENT GUARANTEE FUND

FAILED TO APPOINT CHIEF EXECUTIVE OFFICER FOR ITS SUBSIDIARY COMPANY

VIOLATED DIRECTIVES OF SEBI WILFULLY

DID NOT PROVIDE ADEQUATE FINANCIAL POWERS TO EXECUTIVE DIRECTOR

DID NOT CONDUCT HALF YEARLY INSPECTION OF SUBSIDIARY

SUBSIDIARY FAILED TO HAVE ITS OWN STAFF

DID NOT VALUATE SHARES ON VAR BASIS

FINANCIAL POWERS EXERCISED BY BROKER DIRECTORS  		RECOGNITION OF STOCK EXCHANGE WITHDRAWN

05-JUL-2007 		SAT: APPEAL FAILED AND DISMISSED WITH NO ORDER AS TO COSTS

SEBI VICE ITS ORDER DATED 05/04/2013 ORDERED SKSEL TO COMPULSORY EXIT AND DIRECTED TO A) COMPLY WITH ITS TAX OBLIGATIONS UNDER INCOME TAX ACT, 1961 B) COMPLY WITH UNDERTAKINGS GIVEN BY IT TO SEBI C) COMPLY WITH OTHER CONSEQUENTIAL CONDITIONS OF 2012 EXIT CIRCULAR AND D) CHANGE ITS NAME AND NOT TO USE THE EXPRESSION “STOCK EXCHANGE” OR ANY VARIANT OF THIS EXPRESSION IN ITS NAME AND TO AVOID ANY REPRESENTATION OF PRESENT OR PAST AFFILIATION WITH THE STOCK EXCHANGE, IN ALL MEDIA
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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