{"id":13262,"date":"2011-09-17T17:29:22","date_gmt":"2011-09-17T11:59:22","guid":{"rendered":"https:\/\/www.legalindia.in\/news\/?p=13262"},"modified":"2011-09-17T17:29:22","modified_gmt":"2011-09-17T11:59:22","slug":"court-urges-sebi-mcx-sx-to-amicably-resolve-issues","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues","title":{"rendered":"Court urges SEBI, MCX-SX to amicably resolve issues"},"content":{"rendered":"<p><a href=\"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/09\/Bombay-High-Court.png?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"13263\" data-permalink=\"https:\/\/www.legalindia.com\/news\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues\/bombay-high-court-4\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2011\/09\/Bombay-High-Court.png?fit=282%2C179&amp;ssl=1\" data-orig-size=\"282,179\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Bombay High Court\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2011\/09\/Bombay-High-Court.png?fit=150%2C95&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2011\/09\/Bombay-High-Court.png?fit=282%2C179&amp;ssl=1\" class=\"alignright size-full wp-image-13263\" title=\"Bombay High Court\" src=\"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/09\/Bombay-High-Court.png?resize=282%2C179&#038;ssl=1\" alt=\"\" width=\"282\" height=\"179\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2011\/09\/Bombay-High-Court.png?w=282&amp;ssl=1 282w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2011\/09\/Bombay-High-Court.png?resize=150%2C95&amp;ssl=1 150w\" sizes=\"auto, (max-width: 282px) 100vw, 282px\" \/><\/a>The Bombay High Court Friday directed the markets regulator, Securities and Exchange Board of India (SEBI) to resolve pending issues with MCX-SX promoters in a business-like manner and give thm a fresh chance.<\/p>\n<p>&nbsp;<\/p>\n<p>Justice D.Y. Chandrachud also urged the SEBI to consider withdrawing its show-cause notice, based on which it passed its order to MCX-SX last year rejecting its application to start an equities trading platform, since most of the issues in the order have been resolved, an official said, requesting anonymity.<\/p>\n<p>&nbsp;<\/p>\n<p>The two parties \u2013 SEBI and MCX-SX \u2013 have also been directed to return to the high court Sep 30 with a workable solution through assurances and undertakings.<\/p>\n<p>&nbsp;<\/p>\n<p>The high court noted that for some small reasons, institutions should not be closed down as markets need competition.<\/p>\n<p>&nbsp;<\/p>\n<p>After it secured recognition in 2009, MCX-SX was granted a one-year licence with a condition to comply with the Securities Contract (Regulation) \u2013 Manner of Increasing &amp; Maintaining Public Shareholding in Recognised Stock Exchanges \u2013 within one year.<\/p>\n<p>&nbsp;<\/p>\n<p>The other condition was it could only offer trading in currency future and would not be eligible for introducing any new class of contracts in securities till it fully complied with SEBI\u2019s regulations.<\/p>\n<p>&nbsp;<\/p>\n<p>Last year, the MCX-SX challenged the SEBI order rejecting its application to start the equities platform, on grounds that the former (MCX-SX) had not complied with its regulations.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bombay High Court Friday directed the markets regulator, Securities and Exchange Board of India (SEBI) to resolve pending issues with MCX-SX promoters in a business-like manner and give thm a fresh chance. &nbsp; Justice D.Y. Chandrachud also urged the SEBI to consider withdrawing its show-cause notice, based on which it passed its order to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[47741,5205,5204,2074],"class_list":["post-13262","post","type-post","status-publish","format-standard","hentry","category-top-law-news","tag-bombay-high-court","tag-justice-d-y-chandrachud","tag-mcx-sx","tag-sebi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Court urges SEBI, MCX-SX to amicably resolve issues<\/title>\n<meta name=\"description\" content=\"The Bombay High Court Friday directed the markets regulator, Securities and Exchange Board of India (SEBI) to resolve pending\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/news\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court urges SEBI, MCX-SX to amicably resolve issues\" \/>\n<meta property=\"og:description\" content=\"The Bombay High Court Friday directed the markets regulator, Securities and Exchange Board of India (SEBI) to resolve pending\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legalindia.com\/news\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues\" \/>\n<meta property=\"og:site_name\" content=\"Legal News India - Supreme Court &amp; High Court Updates\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LegalindiaCom\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-17T11:59:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legalindia.in\/news\/wp-content\/uploads\/2011\/09\/Bombay-High-Court.png\" \/>\n<meta name=\"author\" content=\"Legal India Admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Legal India Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legalindia.com\\\/news\\\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legalindia.com\\\/news\\\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues\"},\"author\":{\"name\":\"Legal India Admin\",\"@id\":\"https:\\\/\\\/www.legalindia.com\\\/news\\\/#\\\/schema\\\/person\\\/0bfdffe9059fb8bb24a86d094609c5ea\"},\"headline\":\"Court urges SEBI, MCX-SX to amicably resolve issues\",\"datePublished\":\"2011-09-17T11:59:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legalindia.com\\\/news\\\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues\"},\"wordCount\":239,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/www.legalindia.com\\\/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legalindia.com\\\/news\\\/court-urges-sebi-mcx-sx-to-amicably-resolve-issues#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legalindia.in\\\/news\\\/wp-content\\\/uploads\\\/2011\\\/09\\\/Bombay-High-Court.png\",\"keywords\":[\"Bombay High Court\",\"Justice D.Y. 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Shah was arrested by the CBI last week in connection with a case against him for allegedly suppressing facts to get an extension for the\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"Court rejects Shah's bail application, remands him to JC","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/08\/Law-300x200.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":33949,"url":"https:\/\/www.legalindia.com\/news\/mcx-promoter-jignesh-shah-files-fresh-bail-plea-hc","url_meta":{"origin":13262,"position":1},"title":"MCX promoter Jignesh Shah files fresh bail plea in HC","author":"Legal India Admin","date":"June 30, 2014","format":false,"excerpt":"MCX promoter Jignesh Shah, held in the Rs 5,000 crore NSEL scam, has filed a petition in the Bombay High Court challenging an order of a special court refusing to grant him bail. The designated judge of Maharashtra Prevention of Investors Deposits Act Court D P Surana, had on June\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"vvv","src":"https:\/\/i0.wp.com\/www.legalindia.in\/news\/wp-content\/uploads\/2014\/06\/vvv.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":30105,"url":"https:\/\/www.legalindia.com\/news\/hc-issues-notice-sebi-sahara-q-shop","url_meta":{"origin":13262,"position":2},"title":"HC issues notice to SEBI, Sahara Q Shop","author":"Legal India Admin","date":"September 9, 2013","format":false,"excerpt":"The Lucknow bench of the\u00a0Allahabad High Court\u00a0(HC) Monday issued notice to the\u00a0Securities and Exchange Board of India\u00a0(SEBI) and\u00a0Sahara Q Shop Limited, over a scheme launched some years ago. The bench of Justice Devi Prasad Singh and Justice\u00a0Ashok Pal Singh\u00a0also directed counsel of the union and state government to seek instructions\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27293,"url":"https:\/\/www.legalindia.com\/news\/sebi-tightens-noose-around-sahara-group-chief","url_meta":{"origin":13262,"position":3},"title":"SEBI tightens noose around Sahara Group chief","author":"Legal India Admin","date":"March 18, 2013","format":false,"excerpt":"SEBI moved to the Supreme Court for the house arrest of Sahara Group Chairman Subroto Roy for not refunding of Rs 24,000 crore\u00a0money belonging to investors in his companies. It has been also asked by the Securities and Exchange Board of India (SEBI), in its application, to impound the passport\u2026","rel":"","context":"In &quot;Corporate Law News&quot;","block_context":{"text":"Corporate Law News","link":"https:\/\/www.legalindia.com\/news\/category\/corporate-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24140,"url":"https:\/\/www.legalindia.com\/news\/sebi-can-take-action-against-sahara-for-not-providing-documents-sc","url_meta":{"origin":13262,"position":4},"title":"SEBI can take action against Sahara for not providing documents : SC","author":"Legal India Admin","date":"October 19, 2012","format":false,"excerpt":"Today \u00a0the Supreme Court made it clear that the market regulator SEBI can take action against Sahara Group for non-compliance of its directions relating to the refund of Rs 24,000 crore raised from investors through optionally fully convertible debentures. A Bench of judges comprising Justices K.S. Radhakrishnan and J.S. Khehar\u2026","rel":"","context":"In &quot;Top Law News&quot;","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50641,"url":"https:\/\/www.legalindia.com\/news\/bombay-hc-judges-facilitate-auction-aamby-valley-sc","url_meta":{"origin":13262,"position":5},"title":"Bombay HC judges to facilitate auction of Aamby Valley: SC","author":"Legal India Admin","date":"November 24, 2017","format":false,"excerpt":"The Supreme Court today granted liberty to two Bombay High Court judges to adopt procedures to facilitate the auctioning of Sahara's prized Aamby Valley properties and directed the Official Liquidator not to allow any obstruction in the process. A three-judge bench, comprising Chief Justice Dipak Misra and Justices Ranjan Gogoi\u2026","rel":"","context":"In &quot;High Profile Cases&quot;","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"Bombay HC judges to facilitate auction of Aamby Valley: SC","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/06\/bombay-HC-300x200.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-3rU","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/13262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=13262"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/13262\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=13262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=13262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=13262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}