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

  • Going solar is the need of the hour, but ‘going desi’ is equally important too

    Narendra Modi government’s decision on Wednesday to set up 50 solar parks with 500mw each and double the targeted solar power capacity to 40,000mw i

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust: Interesting times

Russia’s ultra nationalist supreme leader, the all powerful Vladimir Putin ...

Susan Visvanathan

The problem called JNU

Reservation is a word that some administrators and intellectuals find ...

Rajgopal Nidamboor

That divine mosaic of art and science

Our old, inborn fancy to present complex explanations as a ...