User:Kruti Jhala/sandbox

Before SEBI:
Ahemdabad stock being one of the oldest exchanges in India is located in the western part of Ahmedabad. It is referred as ASE and was formed with a purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities as a recognized stock exchange, segregation of ownership and management from the trading rights of the members, restriction on voting rights of shareholders who are also trading members, composition of the Governing Board and so on. It plays a vital role in the Indian securities market by serving individual and institutional investors from around the world. It’s mainly deals in business of trading of approximately 2000 nationally listed equities. The Exchange also trades over 200 high growth companies that are solely listed on the ASE or dually listed with another exchange

After SEBI:
Now under the rights of SEBI and  in accordance with the provisions of section 4B(6) of the SCRA it worked for utilization of assets and reserves and other matters required for the purpose of and in connection with the corporatization and demutualization given by Securities Contracts (Regulation) Act (SCRA), 1956. The issued notice by SEBI (Securities and Exchange Board India) stated that regional stock exchanges whose net worth was less than Rs 100 crores and turnover less than Rs 1,000 crores has to be shut down. Dharmishta Raval, former executive director in-charge of SEBI’s legal cell, confirmed in MAY 2014 that regional exchange, Ahemdabad Stock Exchange had challenged the SEBI circular on the exit policy for stock exchanges and it has been disposed.