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  3. Calcutta Stock Exchange – Revival Plan Yet to Be Formally Submitted to …

Calcutta Stock Exchange – Revival Plan Yet to Be Formally Submitted to SEBI

11 Aug 2026

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Key Takeaways

  • The CSE revival story remains at an early regulatory stage. While the exchange has sought to pause its exit and the West Bengal government supports a revival, the absence of a formal proposal means there is no regulatory approval for restarting operations yet. The submission of a credible revival roadmap to SEBI will be the next major catalyst.

  • The CSE revival story remains at an early regulatory stage. While the exchange has sought to pause its exit and the West Bengal government supports a revival, the absence of a formal proposal means there is no regulatory approval for restarting operations yet. The submission of a credible revival roadmap to SEBI will be the next major catalyst.

Calcutta Stock Exchange Unlisted Shares

Calcutta Stock Exchange

-65.43%

Expert Analysis

Expert Analysis:

  • CSE has asked SEBI to put its voluntary exit application on hold, but the regulator has confirmed that it has not yet received a formal revival proposal from the exchange. The request to pause the exit process was submitted on 1 July 2026.

  • CSE had originally filed for voluntary exit in February 2025, and SEBI's exit process remains under consideration. A valuation agency appointed by SEBI has already assessed the exchange's assets and liabilities, although some information is still awaited from CSE.

  • Any revival would require CSE to comply with the regulatory framework governing recognised stock exchanges, including the Securities Contracts (Regulation) Act, 1956, related rules and SEBI's 2018 regulations.

  • The development highlights a key gap between the West Bengal government's push for revival and the regulatory process. CSE would also need to address matters such as exclusively listed companies, asset treatment and outstanding broker dues.

Publisher:Business Standard