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of <h1>SEBI Extends Supersession of Uttar Pradesh Stock Exchange Board to Address Management and Risk Issues Until Sept 30, 2006.</h1> The Securities and Exchange Board of India (SEBI) extended the supersession of the Governing Board of the Uttar Pradesh Stock Exchange Association Limited until September 30, 2006. This decision follows the initial notification dated June 30, 2005, and is due to ongoing corrective measures and management issues, including the suspension of the Executive Director and a pending court case. Additionally, a SEBI inspection revealed weaknesses in the exchange's risk management framework. Shri M.N. Sabharwal will continue as Administrator, with authority to perform the Board's duties and seek necessary assistance during this extended period.
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