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Delisting norms amended
Special Correspondent
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Panel constituted on future of regional stock exchanges
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CHENNAI:
The Securities and Exchange Board of India on Tuesday amended the guidelines relating to compulsory delisting of securities to protect the interests of investors.
According to a circular issued by the board, the amendments seek to ensure adequate and wide public notice by the stock exchange concerned of the fact of delisting and disclosure of the fair value of the securities through newspapers and notice boards/trading systems of the exchange.
The amendment also seeks to determine the fair value of securities by persons appointed by the stock exchange out of a panel of experts, which shall also be selected by the exchange. SEBI has, meanwhile, constituted a committee to go into the future of regional stock exchanges "post demutualisation". The seven-member committee headed by G. Anantharaman, Whole Time Member of the board, will include Prof Moushmi Ghosh, J. Jayaraman, , M. R. Mayya , Sandeep Parekh, Ramu Sharma and Pratip Kar.
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