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Securities Contracts (Regulation) Act, 1956

22.Right of appeal against refusal by stock exchanges to list securities of public companies.-

Where a recognised stock exchange acting in pursuance of any power given to it by its bye-laws, refuses to list the securities of any public company, the company shall be entitled to be furnished with the reasons for such refusal, and may appeal against the decision of the recognised stock exchange to the Central Government , and the Central Government may, after giving the stock exchange an opportunity of being heard, vary or set aside the decision of the recognised stock exchange, and when it does so the stock exchange shall be bound to act in conformity with the doors of the Central Government.

Penalties And Procedure

Securities Contracts (Regulation) Act, 1956 Back

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