Ref. SMD-I/10719
July 9, 1993.


The President/ Executive Director,
Bombay, Ahmedabad, Calcutta, Delhi,
Madras, Hyderabad, Madhya Pradesh Bangalore,
Pune, Mangalore, Magadh, Jaipur,
Saurashtra Kutch and Vadodara Stock Exchange.

Dear Sir,

Progress report persuant to inspection

As you are aware, SEBI had conducted an inspection of your Exchange, and based on findings of the inspection, certain suggestions were made to improve the working and practices and procedures at the Exchange. These suggestions have already been forwarded to you and you were also advised to submit periodical progress reports on implementation of these suggestions. You are therefore, requested to please submit to us the detailed progress report as on June 30, 1993 on implementation of various suggestions to the Exchanges made by SEBI in its inspection report and a suitable time-frame for implementations of suggestions which have not yet been implemented. Your report in this regard should be sent immediately on the receipt of this letter.

Yours faithfully,


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