Sebi warns Ahmedabad Stock Exchange, bars three directors

Sebi has issued a warning to the exchange and asked it to exercise caution in the discharge of its functions

Finding some irregularities, the Securities and Exchange Board of India (Sebi) on Friday warned the Ahmedabad Stock Exchange and asked it to be cautious, while carrying out its functions, including financial dealings, and barred three of its shareholder directors from the board.

The Sebi order followed certain lapses and irregularities found in the functioning of the exchange. “The governing board of the Ahmedabad Stock Exchange Ltd is warned and is advised to be cautious in the discharge of all its functions and also in their financial dealings,” Sebi whole time member Prashant Saran said in a 19-page order.