Elected Members of the Governing Board of the BSE to be allowed to continue

The Stock Exchange, Mumbai (BSE) has received a communication from the Securities and Exchange Board of India (SEBI) on February 20, 2002 stating that "The brokers of BSE are not precluded from contesting the election of the Governing Board of BSE or to continue on the Governing Board of BSE. This will however be subject to the changes in the policy/regulatory framework which may be brought about by SEBI, more particularly in demutualisation of stock exchanges."

BSE would be holding elections of the Governing Board for the year 2002-2003 on March 6, 2002. Fifteen members have filed their nomination papers as candidates for the elections, which are currently being scrutinized for the purpose of ascertaining eligibility of the candidates.