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Sebi allows ICEX to voluntarily exit market
The New Indian Express Sambalpur
|January 03, 2025
CLOSE to two years after the Indian Commodity Exchange (ICEX) had requested the Securities and Exchange Board (Sebi) to voluntarily surrender its licence and recognition, the regulator has accepted the same.
In a notification on Thursday, the regulator said it has accepted the request, made in February 2023, with effect from December 26, permitting it exchange to stop functioning as a stock exchange. The Sebi had passed the order on December 10, 2024, it said in a statement.
The Sebi has also asked ICEX to change its name and not retain 'exchange' or any variant in the name if it plans to continue as a corporate entity. In May 2023, its shareholders had approved a voluntary surrender of its recognition.
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