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Securities and Exchange Board of India (SEBI)

Ref.SMD-I/21765
December 16, 1992

To,

The Presidents/Executive Directors
Bombay, Ahmedabad, Calcutta, Madras,
Delhi, Hyderabad, Indore,
Bangalore, Cochin, Kanpur
Pune, Ludhiana, Guwahati
Mangalore, Patna, Jaipur
Bhubaneshwar, Saurashtra Kutch and
Vadodara Stock Exchanges

Dear Sir,

Progress report on suggestions

Please refer to the discussions the Honorable Finance Minister had with the President of major stock exchanges on March 28, 1992 regarding the following points :-

1. Increasing corporate membership

2. Uniform & longer trading hours

3. Shorter, uniform & synchronised settlements

4. Faster arbitration proceedings

5. Effective inspection of broker’s books and quicker redressal of investors’ grievances.

You are hereby advised to send us a detailed progress report on the implementation of the above 5 suggestions immediately on receipt of this letter.

Kindly acknowledge receipt of this letter.

Yours faithfully,
sd/-

(CHANDRASHEKHAR TILAK)

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