Renewal of Recognition of Saurashtra Kutch Stock Exchange Limited - S.O. No.775(E) - SEBI/LE/13118/03 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 08 th July, 2003 S.O.775(E)-- Securities and Exchange Board of India, having considered the application for renewal of recognition made under Section 3 of the Securities Contracts (Regulation) Act, 1956, (hereinafter referred to as the Act ) by Saurashtra Kutch Stock Exchange Limited, (hereinafter referred to as the Exchange ) having its registered office at Popatbhai Sorathia Bhavan , Sadar Bazar, Rajkot and being satisfied that it would be in the interest of the trade and also in the public interest so to do, in exercise of the powers conferred under Section 4 of the Act, hereby grants renewal of recognition to the Exchange for a further period of one year commencing on the 10th day of July 2003 and ending on the 9th day of July 2004 in respect of contracts in securities, subject to the conditions stated herein below or as may be prescribed or imposed hereafter :- 1) The Exchange shall commence trading only after obtaining final approval from SEBI for establishment of the Settlement Guarantee Fund/Trade Guarantee Fund. 2) The exchange shall commence trading only after confirming to SEBI the compliance with the circulars issued by SEBI from time to time; and obtaining prior approval from SEBI. 3) The exchange shall ensure that every member of the exchange maintains adequate Base Minimum Capital which is free from any encumbrances, before they are permitted to trade in the exchange. 4) The Exchange shall comply with the observations pointed out in the inspection report of SEBI, for the inspection conducted during June 02-05, 2003, communicated to the exchange by SEBI vide letter no. SMDI/SE/SKSE-INSP/12860/2003 dated July 03, 2003 [F. No. SEBI/LE/13118/03] G. N. BAJPAI, Chairman