MCX-SX has already got an approval from SEBI to function as a full-fledged stock exchange
New Delhi: The government has notified the country’s newest bourse MCX-SX (MCX Stock Exchange)as a recognised stock exchange, paving the way for initial public offers, listing and trading of shares its platform, reports PTI.
MCX-SX has already got an approval from SEBI (Securities and Exchange Board of India) to function as a full-fledged stock exchange.
MCX-SX has been now notified as a “recognised stock exchange” by the ministry of corporate affairs (MCA), which would allow the bourse to list a company on its platform pursuant to an IPO and offer book building, besides other facilities for the public offers and trading of shares.
The government notification as a “recognised stock exchange” is also necessary for any investment in shares of a company listed on its platform to be treated as “quoted investment”. Besides, there are various other procedural benefits that a company gets after being listed on a recognised stock exchange.
MCX-SX is preparing to begin live trading in various asset classes, including equity and equity derivatives, on its platform as it has got all the necessary approvals from SEBI.
Earlier on 19 December 2012, it got the “commencement certificate” from SEBI, which was the final regulatory clearance to go live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives.
The much-talked about trading launch of MCX-SX, the third full-fledged equity exchange in the country, is likely to begin in January 2013.
MCX-SX is currently providing trading platform for only currency derivatives segment and would become a full-fledged stock exchange after launch of other segments like equity, equity derivatives, bonds and interest rate derivatives.
After going live, MCX-SX would compete with other full- fledged nationwide stock exchanges like the NSE and BSE.
The Tamil Nadu chief minister said there had been many occasions where the chief ministers were allowed to speak for 25 to 35 minutes
New Delhi: Tamil Nadu chief minister Jayalalithaa said she had come prepared with several points to “enlighten the interest of Tamil Nadu and the interest of the nation,” reports PTI.
“But I was told only 10 minutes will be allowed to each CM. On that, if we speak beyond the allotted 10 minutes then a bell would ring. I began my speech and as the 10 minutes were up, they rang a bell. It was a big humiliation,” she said.
The Tamil Nadu chief minister said there had been many occasions where the chief ministers were allowed to speak for 25 to 35 minutes.
“To show my protest, I have walked out of the NDC meeting because the plan document itself is so lengthy and encompasses so many subjects... Just by allowing 10 minutes and humiliating us in this way, they need not have to call us all the way to Delhi to participate in this meeting,” she said.
“It stifled the voice of the chief ministers who are in the opposition,” she said.
“Early implementation of the Goods and Services Tax is critical to increase the tax ratio as a percentage of GDP,” said the prime minister
New Delhi: Seeking co-operation of the states to implement the GST regime, the prime minister said there is a need to increase the tax ratio as a percent of GDP through combination of tax reforms and better tax administration, reports PTI.
“Early implementation of the Goods and Services Tax (GST) is critical in this context. I hope we will have the co-operation of the states to introduce the GST as quickly as possible,” he said.
Mr Singh said growth rate of many states have improved in the recent years. “The average growth rate of the five poorest states exceeds the national average for the first time in any Plan. I think we may be reaching the stage when the term BIMARU states can be relegated to history,” he said.
During his address, the prime minister also made a reference to the recent gang-rape of a 23-year old paramedic student in the capital.
“The culprits have been apprehended, and the law will deal with them expeditiously. The government has decided to review the present laws and examine the levels of punishments in cases of aggravated sexual assault,” he said.
The issue of safety and security of women, Mr Singh said, is of “highest concern ... There can be no meaningful development without the active participation of half the population and this participation simply cannot take place if their security is not assured”.
The government has already constituted a committee under former Supreme Court Chief Justice JS Verma and instituted a Commission of Inquiry to look into woman related issues.