Sebi Asks Upse President, Deputy To Demit Office

The Securities and Exchange Board of India has asked the president and vice-president of Uttar Pradesh Stock Exchange (UPSE) to demit office and also ordered the executive director (ED) of the bourse to cease working with immediate effect. The regulator has sent two faxed orders to the UPSE in the last two days.

In the first, it has asked the ED to cease working stating that the bourse did not take its permission for his appointment. The second, sent on June 27, advised that the president and the vice-president should demit office as they are holding these in spite of Sebi orders.

 

H K Garg, the president of UPSE, said,