The recovery of assets would help in meeting the obligations of clients, stock exchanges, and clearing corporations, Sebi said in a circular
Sebi | Clearing corporations | defaulters
Markets regulator Securities and Exchange Board of India (Sebi) on Monday asked exchanges and clearing corporations to initiate measures for liquidating assets of defaulter members within six months of declaring the entities concerned as defaulters.
The watchdog has directed that required measures have to be taken before the appropriate court of law to liquidate moveable and immoveable assets that are not in possession of stock exchanges and clearing corporations.
The recovery of assets would help in meeting the obligations of clients, stock exchanges, and clearing corporations, Sebi said in a circular.
A recognised stock exchange acts as a first-level regulator in the securities market, in so far as trading on its platform by its members is concerned.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Tue, September 29 2020. 01:17 IST