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Capital market regulator SEBI on Thursday gave the nod to the Madras Stock Exchange to exit the stock exchange business.
It has become the 14th stock exchange to be allowed by SEBI to exit the capital markets space.
Others include the OTC Exchange, Cochin SE, Ludhiana SE, Gauhati SE, Bhubaneswar SE, Hyderabad Securities and Enterprise, Coimbatore SE, Inter-connected SE and Bangalore SE.
In its latest exit order, SEBI said Chennai-based MSE has complied with the regulator’s conditions for exit and is therefore “a fit case to allow exit” from the capital markets.
“From the valuation report and undertaking of the MSE, it is observed that all the known liabilities have been brought out and that there is no other future liability that is known as on date,” SEBI said in its order.
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