From Equitybulls.com: Indiabulls Financial Services Ltd has announced that the Ministry of Consumer Affairs, Food and Public Distribution, Department of Consumer Affairs, vide its communication dated October 09, 2009, has granted recognition to Indian Commodity Exchange Ltd. (ICEX), NCR, Gurgaon, under Forward Contracts (Regulation) Act, 1952.
The recognition to the Exchange is on a permanent basis in respect of forward contracts in all commodities to which Section 15 of the Act is applicable, and the commodities to which neither Section 17 nor Section 15 of the Act is applicable, with the prior permission of the Forward Markets Commission……………………Full Article: Source