Supersession of Governing Board of U.P. Stock Exchange Association Limited Extended for 6 Months. - S.O. No.789(E) - SEBI/LE/12829/2003 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 09 th July, 2003 S.O.789(E).-- Vide Notification No. S.O. 732(E) dated July 12, 2002 the Governing Board of the U.P. Stock Exchange Association Limited was superseded by the Securities and Exchange Board of India for a period of one year with effect from July 12, 2002 and Shri M.N. Sabharwal, I.P.S. (Retd.) was appointed as an Administrator to exercise and perform alt the powers and duties of the Governing Board. The current term of supersession vide notification cited is ending on July 11, 2003. 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 also to complete the process of Demutualisation and Corporatisation, the period of supersession of the Governing Board is hereby extended for 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 July 12, 2003. Shri M.N. Sabharwal, I.P.S. (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. [F. No. SEBI/LE/12829/2003] G.N. BAJPAI, Chairman