The famous `Katni' group, member brokers whose families hail from the jute business houses, and `Badla' group comprising existing stalwarts of the exchange like Sebentibhai Shah, Ajay Kayan, S S Dalmia, have fielded three candidates each in an effort to increase their hold in the new committee.

At the end of last date of filing nomination papers, it was found that Bipin Dewra, K K Daga, J M Chowdhary, Anil Saraogi, Pawan Kayan and Dilip Khandelwal are in the fray. Of them, J M Chowdhary and Dilip Khandelwal are past presidents of the exchange.

Mr Chowdhary, who was thepresident of the exchange for two consecutive terms between 1994 and 1996, is reported to have the backing of small and medium-size brokers of `Katni' group while Dilip Khandelwal is reported to have the backing of the `Badla' group.

An interesting scenario might emerge if both Khandelwal and Chowdhary are elected to the committee as they are unlikely to remain satisfied with being mere ordinary members. This will create uncertainties on whether the current president Kamal Parekh would be re-elected to the post.

Meanwhile, expecting a high-level drama, retiring committee members Girish Mehta and vice-President Vivek Mahajan, despite being eligible, have opted not to contest the elections. Mahajan, it is believed, has opted out in favour of his mentor (Chowdhary) while Mehta, who was elected with the backing of the `Badla' group last time, has made way for Khandelwal.

Market analysts believe that this year's election to the committee is likely to be keenly fought because of the fact that the exchange isgoing to start construction of its ambitious modern complex at E M Bye-pass, the expenses of which has been worked out to be in the region of Rs 160 crore.

Among other members, Bipin Dewra, who claims to be representing the small brokers, was a candidate in previous year's election too, but lost by a margin of one vote to Rajender Agarwal, and if his past performance is any indication, he might get elected this year. K K Daga is also reported to be a candidate of the same group. Anil Saraogi and Pawan Kayan are believed to be hailing from the same group of which Khandelwal is a representative.