SEBI requested to reconsider MCX

In a case full of twists and turns, the High Court has simply directed SEBI to take another decision on the MCX application, seemingly a rescingd order leaving SEBI no option to go to other courts before making a ruling . The High Court’s rulin gin the meanwhil upheald the choice of buyback options by the promoters while selling down their 51-489 structure stakes in the exchange to financial institutions, and all other objections listed by SEBI in their rejection of MCX stock exchange application, including MCX request to trade in equities , having never been a mutual exchange. the 200 page order has been a boon to the new listing and to the promoters’ scrips on the exchange too. 

Clarity helps.

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