In order to prevent companies from using delisting as an escape route, the bourse also plans to initiate winding up notices to companies who are not complying with the listing norms. ``We have already filed winding up petitions against five companies who have, in our opinion, cheated the public. As many as 163 winding notices have sent. A warning has been issued to 300 companies asking them to comply with the listing norms,'' said Rathi.

To encourage good companies, the bourse plans to institute three awards for best corporate governance, most investor-friendly and bestwealth creater. ``Together with the stick, we also have to hold out a carrot as an incentive to companies to perform better,'' Rathi noted.

Meanwhile, BSE is planning to set up terminals in 500 more cities by the end of the year and has urged the Securities and Exchange Board of India to lift restrictions of not having terminals in areas where another bourse exists. At present, BSE's online trading system (BOLT) has a presence in 200 cities across the country and the bourse wants to increase it to 500 cities, Rathi said.

Barring NSE and OTCEI, no exchange is allowed to set up terminals in cities where there is another exchange. However, inter-exchange terminals can be set up through the MoU route. BSE has an inter-exchange terminal at the Calcutta Stock Exchange. Rathi lashed out at this provision and urged the Sebi to create a level playing field in this regard.

With the upsurge in the stock markets, the value of Bombay Stock Exchange's membership card is also on the rise and has crossed the Rs 1.4crore mark. "We have a few enquiries for buying a BSE membership card and we expect the price to be above Rs 1.4 crore," Rathi said. Last month, a BSE member sold his card for Rs 1.4 crore, the highest ever price, to the broking arm of Infrastructure Leasing and Financial Services (IL&FS). The increasing corporatisation of the membership is one reason for the rise in the value of the card. BSE currently has 600 members, of which around 430 are active. During the last three years there has not been any default of payment by members and this has also contributed to the growing demand for membership.