In 2022, Sebi had withdrawn the recognition granted to ICEX over 'non-compliance with minimum net-worth requirement'. ICEX has already been informed to change its name and not use 'exchange' or any other variant if it intends to continue as a corporate entity.
The regulator passed the order on December 10
A two-year old ban on iron ore exports from Karnataka which has halved shipments from the world's No. 3 supplier will take centre stage at an industry gathering in Bangalore this week as pressure mounts to lift the restriction.