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EXIT ORDER IN RESPECT OF INDIA PEPPER AND SPICE TRADE ASSOCIATION, KOCHI

Jan 29, 2018

PR No.: 4/2018

                 EXIT ORDER IN RESPECT OF INDIA PEPPER AND SPICE TRADE ASSOCIATION, KOCHI

Whole Time Member, SEBI, has passed an Order on January 10, 2018 providing exit to M/s. India Pepper and Spice Trade Association, Kochi (IPSTA). IPSTA is the fifth Commodity Derivatives Exchange / deemed stock exchange to exit after merger of FMC with SEBI.

SEBI, vide Circular dated January 11, 2016, has issued the Guidelines for exit of Commodity Derivatives Exchanges. The circular prescribes, inter alia, various conditions for compliance covering various aspects including treatment of assets of non-operational stock exchanges, complete discharge of pending statutory liabilities, outstanding liability towards brokers and clients, redressal of all pending investors’ disputes / complaints, etc, on compliance of which, exit order was issued to IPSTA.

Further, the Income Tax Authorities, Ministry of Finance, Ministry of Corporate Affairs and the State Government ofKerala are being intimated about the exit of IPSTA, for appropriate action, at their end.

The full text of the exit order is available on the website www.sebi.gov.i

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