BSE EGM Adjourned As Members Seek Clarifications

Mumbai, May 20: | Updated: May 21 2003, 05:30am hrs
The extraordinary general meeting (EGM) of The Stock Exchange, Mumbai (BSE), was adjourned on Tuesday as two resolutions were sent back to the BSE governing board for further clarification.

BSE members were of the opinion that the governing board should clarify matters relating to demutualisation and admission of new memberships, BSE sources said.

With regard to demutualisation, the members sought clarification on net worth. They suggested that the stock exchange should also contribute to the net worth in line with insurance companies, private banks and depositories, the sources added.