SEBI : Regulations such as those which have been framed by Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, insofar as they define conditions for recognition of stock exchange, of minimum net worth, composition of board of directors, dispersal of ownership and norms for governance, do not infringe right under Article 19(1)(c) and are not ultra vires Securities Contracts (Regulations) Act, 1956.
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