Critically examine the following: Detailed information in Annual Report by stock exchanges may be submitted for activities during calendar year.

Examination: The statement is correct. Rule 17 of the Securities Contracts (Regulation) Rules, 1957 provides that every recognised stock exchange shall, before the 31st day of January in each year or within such extended time as SEBI may allow, furnish to SEBI annually a report about its activities during the preceding calendar year. This report shall inter alia contain detailed information about the following matters: Changes in rules and bye-laws, if any. Changes in the composition of the governing body. Any new sub-committees set up and changes in the composition of existing ones. Admissions, re-admissions, deaths or resignations of members. Disciplinary action against members. Arbitration of disputes (nature and number) between members and non-members. Defaults. Action taken to combat any emergency in trade. Securities listed and de-listed. Securities brought on or removed from the forward list. This rule clearly mandates the submission of detailed information on activities during the calendar year in the annual report by stock exchanges to SEBI.