Sebi directs bourses, clearing corporations to liquidate defaulters’ assets

Sebi directs bourses, clearing corporations to liquidate defaulters’ assets

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The recovery of assets would help in meeting the obligations of clients, stock exchanges, and clearing corporations, Sebi said in a circular

Topics
Sebi | Clearing corporations | defaulters

regulator Securities and Exchange Board of India (Sebi) on Monday asked exchanges and to initiate measures for liquidating assets of defaulter members within six months of declaring the entities concerned as

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

The recovery of assets would help in meeting the obligations of clients, stock exchanges, and clearing corporations, 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.

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First Published: Tue, September 29 2020. 01:17 IST



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