Order under section 11 of the Securities Contracts (Regulation) Act, 1956 Extending the Period of Supersession of the Governing Board of the Uttar Pradesh Stock Exchange Association Limited. - F.No. SEBI/LE/272/04 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai the, 08 th January, 2004 F.No. SEBI/LE/272/04.- Vide notification No. 789(E), dated July 9, 2003 the supersession of the Governing Board of the Uttar Pradesh Stock Exchange Association Limited was extended by the Securities and Exchange Board of India 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 vide notification cited is ending on January 11, 2004. The Administrator has initiated various corrective measures in the functioning of the Exchange. However, some of the measures would require sustained follow up action, to further improve 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 also to complete the process of Demutualisation and Corporatisation, the period of supersession of the Governing Board is hereby extended for a further period of six months. For 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 Securities and Exchange Board of India Act, 1992, the supersession of the Governing Board of the U.P. Stock Exchange Association Limited is hereby extended for a further period of six months with effect from January 12, 2004. Shri M.N. Sabharwal, IPS (Retd.) shall continue to act as the Administrator to exercise and perform all the powers and duties of the Governing Board for the extended period. G.N. BAJPAI, Chairman [ADVT. III/IV/69ZB/2003/Exty.]