Order Under Section 11 Of the Securities Contracts (Regulation) Act, 1956 Extending The Period Of Supersession Of The Council Of Management Of The Magadh Stock Exchange. - S.O. No.1168(E) - SEBI/LE/21440/99 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 25th November, 1999 S.O. 1168(E).- Vide notification No. 822(E) dated December 5, 1997, the Council of Management of the Magadh Stock Exchange was superseded by the Securities and Exchange Board of India for a period of one year with effect from December 8, 1997 and Shri. S.S. Dhanoa. IAS (Retd.) was appointed as an Administrator to exercise and perform all the powers and duties of the Council of Management. An Inspection of the Magadh Stock Exchange was conducted by Securities and Exchange Board of India, and on the basis of the inspection report it was decided to extend the period of supersession of the Council of Management for a further period of one year. The current term of supersession vide notification cited is ending on December 7, 1999. Keeping in view the time required to complete the process of election and constitution of the new Council of Management, the period of supersession of the Council of Management 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, the supersession of the Council of Management of the Magadh Stock Exchange is hereby extended for a further period of six months with effect from December 8, 1999. Shri S.S. Dhanoa, IAS (Retd) resident of 40, Monararika Enclave, New Delhi-110067 will continue to act as the Administrator to exercise and perform all the powers and duties of the Council of Management for the extended period. [File No. SEBI/LE/21440/99] D. R. MEHTA, Chairman.