Section 11 of SCRA : Section 11: Power Of Central Government To Supersede Governing Body Of A Recognised Stock Exchange

SCRA

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Explanation using Example

Imagine a scenario where the Central Government suspects that the governing body of the Bombay Stock Exchange (BSE) is not functioning in accordance with the laws and regulations that are meant to ensure fair trading practices. The government believes that the governing body is involved in some irregularities and that these actions are detrimental to the interests of the investors and the integrity of the stock market.

Acting under Section 11 of The Securities Contracts (Regulation) Act, 1956, the Central Government sends a written notice to the governing body of BSE, outlining the reasons for considering their supersession and giving them an opportunity to...

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