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of <h1>SEBI Extends Control of UP Stock Exchange Governing Board for Six Months u/s 11 to Ensure Reforms.</h1> The Securities and Exchange Board of India (SEBI) has extended the supersession of the Governing Board of the Uttar Pradesh Stock Exchange Association Limited for an additional six months, effective from January 12, 2004. This decision, under section 11 of the Securities Contracts (Regulation) Act, 1956, allows Shri M.N. Sabharwal, IPS (Retd.), to continue as Administrator. The extension aims to facilitate ongoing corrective measures, ensure investor interests, and complete the processes of election, constitution of a new Governing Board, demutualization, and corporatization.
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