Mumbai, May 3 :
Mumbai, May 3:
The governing board of the Bombay Stock Exchange (BSE) today deferred its decision on the termination of services of A. A. Tirodkar, former director surveillance of the bourse.
The board today gave him a personal hearing on his alleged involvement in leaking price-sensitive information that led to a massive fall in stock prices and the resignation of former BSE president Anand Rathi, but postponed a decision on the issue.
Tirodkar was charged by the BSE of passing on sensitive information to select bulls and of
seeking sensitive information from his subordinate.
Following the allegations, the governing council had, on April 18, tentatively recommended termination of Tirodkar's services for 'loss of confidence,' subject to a personal hearing of submissions.
The BSE board, comprising only independent directors, met Tirodkar today to give him an opportunity to explain, a board member said.
The BSE governing body will hold its next meeting on May 23, sources said, adding a decision is likely to taken on that day.
The Securities and Exchange Board of India's (Sebi) surveillance director, L. K. Singhvi, a nominee on the BSE board, also attended today's meeting.