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In its notification dated May 6, Sebi said that the new framework would be also applicable to those employees who have resigned or retired from the services or have completed the tenure of deputation. The new rules have been made applicable from the same date.
MCX received a letter from Sebi asking the exchange to pay regulatory fees on option basis notional turnover and not premium turnover. The market also instructed the exchange to pay the differential regulatory fee for past periods with an applicable interest of 15% per annum for every delayed month.
Sebi\’s proposal for a special call-auction mechanism aims to address liquidity issues and improve fair price discovery in Investment Companies and Investment Holding Companies with significant market price-book value gaps.
A committee would oversee sale of the assets and the money will be utilized for repaying the investors. The committee was formed following an order passed by Calcutta High Court in May 2015.