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

  • Air India is a reminder that government should not dilly-dally on tough decisions

    Finance minister Arun Jaitley recently hinted that the government was open to selling its stake in perennially loss making national carrier, Air India

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Freedom Files : Creating a communal cleave

The Nawab of Bhopal Sir Hafiz Hamidullah Khan, saboteur ...

Gautam Datt

Cattle cauldron simmers: Govt mulling order rework

Ban on sale of cattle for slaughter at animal markets ...

Rajgopal Nidamboor

Live life to its fullest potential

Life is full of charm. Yet, we don’t often discern ...