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Act Name/Rule Name: SEBI Act,1992, Securities Contracts (Regulation) Act, 1956
Circular No./Notification No.: SEBI/LAD-NRO/GN/2024/222
Notification Date: December 24, 2024
SEBI has withdrawn the recognition of the Indian Commodity Exchange Limited (ICEX) as a stock exchange. Initially recognized under the Forward Contracts (Regulation) Act, 1952, ICEX became a recognized stock exchange under the Securities Contracts (Regulation) Act, 1956, following the merger of the Forward Market Commission with SEBI. SEBI’s 2022 order withdrawing ICEX’s recognition was overturned by the Appellate Tribunal. In February 2023, ICEX sought regulatory relaxation or voluntary surrender of its recognition. SEBI, through an order dated December 10, 2024, approved ICEX’s exit and withdrawal of recognition, effective upon publication in the Official Gazette i.e. December 24, 2024.
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