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Our Bureau

New Delhi, Dec 18

After a gap of four years the Delhi Stock Exchange (DSE) is witnessing a serious contest for its governing board elections slated for next Sunday.

This will also pave the way for resuming trading on the exchange, which has been suspended since 2004.

The exchange had around 3,000 companies listed with it when trading last took place.

DSE elections saw a contest last in 2003. During the next few years, since trading was suspended on the exchange, the governing board was decided unanimously by the members.

The Governing board will comprise 16 members out of which four will be SEBI empanelled public directors.

Corporate investors, who hold 51 per cent stake in the exchange, will have eight directors for which 14 candidates have filed nomination.

Broking members, who hold 49 per cent stake in the exchange, will have four directors for which eight nominations have been filed.

This will be the first elections after the exchange got demutualised earlier this year. This is also for the first time that corporate investors will be contesting for directorship of the DSE.

The companies that have filed nominations for their representatives are Lamb Capital, Parsvnath, Omax, Passport Global, New Vermon Private Equity and Nahar Spinning.

“Preliminary ground work have already been done. But trading has not started yet because it was felt that it should be left to the new board, which would have a broader view ,” exchange officials said.

“After the new board takes over, we hope to resume trading some time in the latter part of January next year.”

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