By Admin 
Calcutta Stock Exchange: Today is the last Diwali of Calcutta Stock Exchange (CSE), one of the oldest stock exchanges of the country. After a long legal battle and many regulatory challenges, CSE has finally decided to voluntarily exit the stock exchange business.
In the year 2013, Securities and Exchange Board of India (SEBI) had banned trading in CSE due to non-compliance of rules. For more than a decade, the exchange had tried to challenge SEBI’s decision in court to restart its operations, but with no concrete results. Ultimately it decided to close its stock exchange business.
Now just waiting for SEBI approval
CSE Chairman Dipankar Bose said, “In the extraordinary general meeting (EGM) held with shareholders on April 25, 2025, CSE also got approval to exit the stock exchange business.” The exchange had also formally filed an exit application with SEBI on February 18, 2025. SEBI has appointed Rajvanshi & Associates for its evaluation. (Rajvanshi and Associate) appointed. Now approval will be given only after complete review.
Sale of CSE assets
After getting the approval, CSE will remain as a holding company. However, its subsidiary company CSE Capital Markets Private Limited (CCMPL) will continue broking on NSE and BSE. As part of the exit process, SEBI and CSE have also approved the sale of three acres of property of EM Bypass in Kolkata to Srijan Group for Rs 253 crore. However, the deal will be completed only after getting final approval from SEBI. Not only this, CSE has also started Voluntary Retirement Scheme (VRS) for its employees.
How did things go wrong?
The decline of the Calcutta Stock Exchange, established in 1908, began after the Rs 120 crore scam involving Ketan Parekh. No, before this it was a big rival of Bombay Stock Exchange (BSE). After this, many brokers missed the settlement, which reduced the confidence of investors. Due to this, exchange activities continued to decrease and trading volume also decreased.
In December 2024, the CSE Board decided to withdraw its ongoing cases in the Calcutta High Court and the Supreme Court and move towards voluntary withdrawal. As stated in Chairman Bose’s FY25 report, the exchange has played an important role in India’s capital markets with 1749 listed companies and 650 registered members.
In preparation for the exit from the exchange, CSE offered a voluntary retirement scheme for all employees, which included a lump sum payment of Rs 20.95 crore and annual savings of about Rs 10 crore.
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