Former employees of UP Stock Exchange to protest against VRS

Former employees of the now defunct Uttar Pradesh Stock Exchange are planning to protest against the forced voluntary retirement scheme offered to them at the time of closure of the exchange last year.
Besides, they are demanding their employment back.
"Securities and Exchange Board of India (Sebi) has closed down the exchange, so how can these former employees get employment," Ghanshyam Dwivedi, Chairman of UP Stock and Capital told PTI.
Sebi had in June last year ordered to close down the Kanpur-based stock exchange. Post that, few employees of the exchange formed a company named UP Stock and Capital Ltd, which does not indulge in trading activities.

Satya Vijay Tripathi, former employee union leader of the UP Stock exchange said, "the employees were forcefully given voluntary retirement even though their services were left.
"We had also written letters to the Prime Minister's Office and the Finance Ministry, but did not get any response," he added.
"As per the voluntary retirement scheme, all the 52 employees of the exchange were given four months salary along with other outstanding dues at the time of closing down the exchange," Dwivedi said.
As far as UP Stock and Capital is concerned, it has no links with the stock exchange as it ceased to exist after the directions of Sebi and we don't deal in trading activities," he added.