Extending the Period of Supersession of the Governing Board of the Uttar Pradesh Stock Exchange Association Limited. The Vadodara Stock Exchange Ltd. shall not commence trading unless the suggestions/observations made in the inspection report and communicated to the Exchange. - S.O. No.6(E) - SEBI/LE/29503/2004 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30 th December, 2004 S.O. No.6(E).- Vide notification F. No. SEBI/LE/14296 /2004 dated July 5, 2004 ( said notification ), the supersession of the Governing Board of the Uttar Pradesh Stock Exchange Association Limited ( Governing Board ) was extended by the Securities and Exchange Board of India ( SEBI ) for a further period of six months and Shri M.N. Sabharwal, IPS (Retd.) continued as an Administrator to exercise and perform all the powers and duties of the Governing Board. The term of supersession of the Governing Board is due to expire on January 11, 2005. I have noted that the Administrator has initiated various corrective measures in the functioning of the Exchange, some of which require sustained follow up action. Further, I am of the view that in order to further streamline the functioning of the Exchange, time required to complete the process of election and constitution of the new Governing Board and also to complete the process of corporatisation and demutualisation, the period of supersession of the Governing Board is required to be extended for a further period of six months. In view of the aforesaid, in exercise of the powers conferred upon me under section 4(3) of Securities and Exchange Board of India Act, 1992 read with section 11 of the Securities Contracts (Regulation) Act, 1956 and the Notification No. S.O. 573 dated July 30, 1992 issued by Central Government, the supersession of the Governing Board of the Uttar Pradesh Stock Exchange Association Limited as ordered in the said notification is hereby extended for a further period of six months with effect from January 12, 2005. Shri M. N. Sabharwal, IPS (Retd.) shall continue as the Administrator and shall exercise and perform all the powers and duties of the Governing Board during the period so extended. Shri M. N. Sabharwal may take the assistance of such persons as he deems necessary in discharge of his duties as Administrator. [F.No. SEBI/LE/29503/2004] G.N. BAJPAI, Chairman