February 06, 2018

Metropolitan to SEBI -Share Trading Operational

.Copy of our Complaint to SEBI regarding Non Trading in Equities


Dear Sir ,


             Sub : Investors’ Complaint Against Non Trading in Equities


With due respect , we state :-


  1. We are holders of shares like Frick India , Dalmia Refractories etc which are Exclusively listed in Metropolitan Stock Exchange.
       


2 ) In the recent past , Metropolitan Stock Exchange has raised more than Rs. 200 cr ( privately ) to meet certain Infrastructural etc requirements. But despite this there is no trading in equities.


3 ) This Non Trading is causing great difficulty to investors like me as we are not able to buy / sell these Exclusively Listed shares .


( a ) Share Dealers of Unlisted shares , taking advantage of this Non Trading of shares in Metropolitan Stock Exchange , pay around one third of the likely rate had these shares been listed.    


( b ) In the absence of proper Contract Notes ( and payment of Securities Transaction Tax -STT  ), Sellers cannot claim Exemption from Long Term Capital Gains Tax.


( c ) Central Govt. is losing revenue which would accrued to it by way of GST and STT.


4 ) Please start Share Trading in Metropolitan Stock Exchange , at the earliest.


Thanking you ,


With regards ,


.

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Reply Filed to SEBI by Metropolitan Stock Exchange

Dear User,


SCORES Request No. SEBIP/MH18/0000261/1 has been Completed.


Please find the below Details :
Complaint RegNo:SEBIP/MH18/0000261/1
Status:Action
Category:Stock Exchanges
Nature Of Complaint:
Complaint Against:METROPOLITAN STOCK EXCHANGE LIMITED previous name MCX Stock Exchange Ltd
Remarks:Your complaint was taken up with MSEI. It is observed that the exchange provides for listing of scrips of corporates on satisfying certain criteria and facilitates a trading platform on which such scrips may be traded. Investors and traders buy / sell such scrips through their brokers who are trading members of the exchange. On any day, some scrips are traded and others are not. The exchange ensures that such trading is conducted in an orderly manner and in accordance with SEBI regulations / guidelines. In the same way, the exchange has facilitated trading In the scrips mentioned in the letter of Shri Ashwani Kumar Aggarwal. The absence / quantum of trading in a scrip is dependent on demand and supply in the market for the particular scrip.



You may view status of your complaint online at https://www.scores.gov.in/scores

Thanks & Regards,
SEBI SCORES

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Blog Comments

According to Metropolitan Stock Exchange there is no Trading in shares like Frick India , Dalmia Refractories because there are No Buyers / Sellers.

Investors , please take up the matter further with SEBI and Metropolitan.

I want to Buy shares of Frick India in Metropolitan Stock Exchange.

How do I place my Bid ? 

Please Guide

2 comments:

tushar agarwal said...

Very good sirjee
Thanks for your action

Ashwani Kumar Aggarwal said...

Thanks Tushar Sir. We must ensure that Metropolitan Stock Exchange does regular Equity trading especially in Exclusively Listed shares.Investors should take up the issue with SEBI and Metropolitan. I wish to place a bid for buying Frick India shares. Which broker should I contact ?