Superseded by the Securities and Exchange Board of India for a period of 6 months. Securities and Exchange Board of India has reviewed the functioning of the Pune Stock Exchange Limited. - S.O. No.232(E) - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 25th March, 1997 S. O. 232 (E).- Vide notification no. 665 (E) dated September 27, 1996, the Governing Board of the Pune Stock Exchange Limited had been superseded by the Securities and Exchange Board of India for a period of 6 months. Securities and Exchange Board of India has reviewed the functioning of the Pune Stock Exchange Limited and has noted various improvements in the regulatory, administrative and developmental aspects of the Exchange and is of the opinion that the process of reconstituting the Governing Board of the Exchange, in accordance with the provisions of the Exchange, should be initiated. Since the re-constitution of the Governing Board is expected to take about 4 weeks time the order dated September 27, 1996 needs to be extended till a new Governing Board is reconstituted. Therefore, it is hereby directed that Order dated September 27, 1996, read with Order dated October 30, 1996, issued by Securities and Exchange Board of India shall remain operative and in force till the date of the re-constitution of the new Governing Board of the Exchange. D. R. MEHTA, CHAIRMAN