VSE fails to submit exit application, writes to Sebi

Tags: Stock Market
Failing to meet the deadline set by the Sebi to submit exit application on the voluntary closure of the Vadodara Stock Excahnge (VSE) on July 7, VSE president today said they will now ask Sebi to take a final call on it.

The two groups, VSE Sharebrokers' Forum and investor shareholder, did not sign on the agreement to submit exit application for the voluntary closure of the bourse, owing to discrepancies between them.

Earlier, VSE had agreed for voluntary closure due to to failure to comply with a SEBI directive that it must reach a turnover of Rs 1,000 crore by May 30, 2014.

A meeting investor shareholder and sharebrokers' forum was convened here on Friday. Since, both the parties failed to reach an agreement, it was decided that a letter will be submitted to Sebi on Monday, president of VSE Sushil Samdani, told PTI today.

According to VSE Sharebrokers' Forum president Vishnu Patel, investors shareholder did not agree to their demand that brokers will continue to operate from their office at the exchange office, which led to the standoff.

EDITORIAL OF THE DAY

  • Dictating retail price of a commodity goes against the grain of free market economy

    The Centre’s suggestion to states to cap prices of pulses and edible oils seems to indicate a bankruptcy of ideas in the government.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Susan Visvanathan

Tracing societies through biographies

Memory is thought to be multilayered and interactive. Small ...

Rajgopal Nidamboor

The real truth about happiness

Happiness is a monumental question with no easy answers. It ...

Dharmendra Khandal

When it rains, this beetle starts rolling dung

On the buffer road of a forest, a small metallic ...