Extention of Period of Supersession of Governing Board of Ahmedabad Stock Exchange. - S.O. No.399(E) - SEBI/LE/5304/04 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 24 th March, 2004 S.O. No.399(E).- Vide Notification no. 314(E), dated March 25, 2003 (referred hereinafter to as the said notification) the Governing Board of the Ahmedabad Stock Exchange was superseded by the Securities and Exchange Board of India for a period of one year with effect from March 25, 2003 and Shri P.K. Ghosh, IAS (Retd.)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 current term of supersession vide the said notification is expiring on March 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 six months. In view of the aforesaid reasons, 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 the 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 six months with effect from March 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/5304/04] G.N. BAJPAI, Chairman