SC asks SEBI to reconsider MCX-SX plea in 3 months

11 Apr 2012

1

The Supreme Court has asked the Securities and Exchange Board of India (SEBI) to consider afresh an application by the MCX Stock Exchange (MCX-SX) seeking the market regulator's permission to launch an equity trading platform alongside its multi-commodity trading platforms.

A Supreme Court bench of Justices Aftab Alam and C K Prasad directed SEBI to reconsider MCX SX's plea within three months.

The court's order came on a petition by SEBI, challenging a Bombay High Court verdict that set aside its order rejecting the MCX-SX's application to operate a stock exchange on the lines of the Bombay Stock Exchange and the national Stock Exchange.

MCX-SX currently trades on currency derivatives.

Passing the order, the bench said it considered the case in the light of a consensus reached between SEBI and MCX-SX regarding an amendment to the manner of increasing and maintaining public shareholding in recognised stock exchanges (MIMPS) rules.

The bench, however, asked SEBI not to be influenced by various observations made by the Bombay High Court in its judgment that set aside a SEBI order.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers