Renewal of the Ludhiana Stock Exchange Association Limited, Ludhiana. - S.O. No.463(E) - SEBI/LE/6999/02 - SEBI

SECURITIES AND EXCHANGE BOARD OFINDIA NOTIFICATION Mumbai, the 26th day of April, 2002 S.O.463(E):- Securities and Exchange Board of India, having considered the application for renewal of recognition made under Section 3 of the Securities Contracts (Regulation) Act, 1956 by Ludhiana Stock Exchange Association Limited, Ludhiana (hereinafter referred to as the Exchange ) and being satisfied that it would be in the interest of the trade and also in the public interest so to do, hereby grants, in exercise of the powers conferred by Section 4 of the Securities Contracts (Regulation) Act, 1956, renewal of recognition of the Exchange under Section 4 of the said Act for a further period of one year commencing 28th day of April 2002 and ending on the 27th day of April 2003 in respect of contracts in securities subject to the conditions specified hereunder :- 1. The exchange shall obtain and submit to SEBI within one month, the report of the internal auditors certifying that the computation of gross exposure and various other margins are being computed as prescribed by SEBI and all the irregularities pointed out in the inspection report of January, 2001 by SEBI have been rectified. 2. The exchange shall obtain written confirmation from the software vendor appointed by Exchange i.e. M/s CMC Ltd, that all the deficiencies in the software programme have been rectified. [F.No. SEBI/LE/6999/02] G.N. BAJPAI, Chairman