EXIT ORDER IN RESPECT OF RAJKOT COMMODITY EXCHANGE LIMITED, RAJKOT
Whole Time Member, SEBI, has passed an Order on January 09, 2018 providing exit to M/s. Rajkot Commodity Exchange Limited, Rajkot (RCX). RCX is the fourth Commodity Derivatives Exchange / deemed stock exchange to exit after merger of FMC with SEBI.
SEBI, vide Circular dated January 11, 2016, has issued the Guidelines for exit of Commodity Derivatives Exchanges. The circular prescribes, inter alia, various conditions for compliance covering various aspects including treatment of assets of a non-operational stock exchanges, complete discharge of pending statutory liabilities, outstanding liability towards brokers and clients, redressal of all pending investors’ disputes / complaints, etc, on compliance of which, exit order was issued to RCX.
Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Gujarat are being intimated about the exit of RCX, for appropriate action, at their end.
The full text of the exit order is available on the website www.sebi.gov.in