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Regular-article-logo Monday, 21 July 2025

SEBI NOMINEE ON DSE BOARD HAS HIS WAY 

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FROM OUR CORRESPONDENT Published 13.08.01, 12:00 AM
New Delhi, Aug. 13 :    New Delhi, Aug. 13:  The Delhi Stock Exchange (DSE) has decided to disband some of the internal management committees set up to monitor day-to-day affairs following objections raised by Sebi-nominated director D. N. Davar who had earlier put in his papers as a mark of protest. Confirming the move, Securities and Exchange Board of India (Sebi) chairman D. R. Mehta, who met some of the DSE directors in the presence of the Sebi nominee, said Davar had been persuaded to withdraw his resignation after the directors assured that these committees would be disbanded. The committees to be disbanded include the claims committee, the building and infrastructure committee, the legal committee and the staff committee. The DSE board will however strengthen its business development committee and structure its audit committee keeping in mind the principles of corporate governance, a separate statement issued by DSE said here. According to reports, the crisis at DSE erupted last week when Davar, who is a former IFCI chairman, resigned from the DSE board following differences with broker-directors to record his protest over the petty in-fighting between exchange directors. In his resignation, Davar accused the DSE directors of following a personal agenda in conducting the day-to-day operations of the exchange and stated that those who refused to toe the line were being harassed or forced to quit.    
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