SEBI Decertifies Indian Commodity Exchange: A Chapter Closes

The Indian Commodity Exchange (ICEX) has formally exited the bourse business following a withdrawal of recognition by SEBI. The regulator reviewed the exchange's compliance and financial status, directing ICEX to fulfill certain obligations and discontinue using 'stock exchange' in its name.

The Securities and Exchange Board of India (SEBI) has officially announced the withdrawal of recognition granted to the Indian Commodity Exchange Ltd (ICEX), marking its departure from the stock exchange industry.

This decision follows SEBI's earlier permission on December 11 for ICEX to exit the exchange, after its recognition had been revoked over two years ago, following compliance with regulatory requirements.

SEBI instructed ICEX to ensure tax compliance, no longer use the term 'stock exchange' in its name, and maintain transaction records, as part of its exit obligations. ICEX has confirmed no undisclosed third-party liabilities exist and accepts future financial claim responsibilities.

(With inputs from agencies.)