OTC Exchange of India




SEBI vide its 揈xit Order?No. WTM/RKA /MRD/25/2015 issued on March 31, 2015 by Mr. Rajeev Kumar Agarwal, Wholetime member, has allowed the exit of OTC Exchange of India (OTCEI). As per the 揈xit Order? OTC Exchange of India is no longer a recognized Stock Exchange under the relevant provisions of Securities and Exchange Board of India Act, 1992 and the Securities Contracts (Regulation) Act, 1956 with effect from March 31, 2015.

In terms of Clause 3 of SEBI Circular No.MRD/DoP/SE/Cir-36/2008 dated December 29, 2008, 揷onsequent upon de-recognition, the trading members of such exchange shall cease to be trading members and therefore liable to be de-registered as stock brokers, and their certificate of registration granted by SEBI shall accordingly stand automatically cancelled?

Further, the Exchange has shifted 49 exclusively listed companies including 3 vanishing companies to the Dissemination Board of BSE Limited. Accordingly, all the companies listed on OTC Exchange of India have ceased to be listed on OTCEI with effect from March 31, 2015.