Notification under section 11(3) of the Securities Contracts (Regulation) Act, 1956 for extending the period of supersession of the Governing Board of Ahmedabad Stock Exchange - S.O. No.1025(E) - SEBI/LE/21059/04 - SEBI

Securities and Exchange Board of India Notification Mumbai, the 21 st September, 2004 S.O. No.1025(E).- Vide Notification No. 399(E) dated March 24, 2004 (referred hereinafter to as the said notification), the supersession of the Governing Board of the Ahmedabad Stock Exchange was extended by the Securities and Exchange Board of India for a further period of 6 months with effect from March 25, 2004 and Shri P.K. Ghosh, IAS (Retd.) was appointed as the Administrator to exercise and perform all the powers and duties of the Governing Board. The term of supersession vide notification cited as ending on September 24, 2004. In view of the various corrective measures taken by the Administrator, some of which would require sustained follow up action, to further streamline the functioning of the Exchange in the interest of investors and time required to complete the process of election and constitution of the new Governing Board and further to complete the process of demutualization and corporatisation, the period of supersession of the Governing Board is hereby extended for a further period of three months with effect from September 25, 2004. In view of the aforesaid reasons, and in exercise of the powers conferred upon me under section 11 of the Securities Contracts (Regulation) Act, 1956 read with the Notification No. S.O. 573 dated July 30, 1992 issued by Central Government and also section 4(3) of Securities and Exchange Board of India Act, 1992, the supersession of the Governing Board of the Ahmedabad Stock Exchange as ordered in the said notification is hereby extended for a further period of three months with effect from September 25, 2004 Shri P.K. Ghosh, IAS (Retd.) shall continue as the Administrator and exercise and perform all the powers and duties of the Governing Board, during the extended period. [F.No. SEBI/LE/21059/04] G.N. BAJPAI, Chairman