The Hindu Business Line : SEBI extends CSE supersession

THE Securities and Exchange Board of India (SEBI) has extended the supersession of the committee of the Calcutta Stock Exchange (CSE) up to March 31, 2006.

The regulator, in its order sent to CSE, has stated that Mr T.K. Das will continue as the Administrator of the exchange. He will exercise and perform all the powers and duties of the committee during the extended period.

The exchange has already communicated SEBI's decision to its members. The regulator's order, dated June 27, will take effect from July 1. A copy of the order has been displayed for members, says a message from the CSE secretary.

The move comes at a time when interest in Lyons Range continues to flag, as has been witnessed for the past few years. The trend is best reflected in the relatively poor numbers that are registered on the exchange every day.

On June 28, for instance, no more than 62 stocks were traded; many of which were of relatively little-known entities, including a host of small trading and investment companies. There were 605 trades in all, which resulted in a turnover of merely Rs 16.87 crore.

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