Disqualification from Governing Board: suspension, cancellation or notified person status bars membership and election for a two year period.
Members suspended from trading or from registration for disciplinary action by the Exchange or SEBI shall not continue on the Governing Board and shall be ineligible for election to the Governing Board for two years from expiry of such suspension; members whose registration is cancelled are barred from continuing on or being elected to the Governing Board. Persons designated as Notified Persons under the Special Courts Act, 1992 shall vacate Governing Board positions and be ineligible for election for two years from de notification.

Renewal of recognition under Section 4 granted for Cochin Stock Exchange; six month conditional extension in securities trading.
Renewal of recognition under Section 4 is granted to Cochin Stock Exchange Limited for a six month period commencing 8 May 2001 and ending 7 November 2001 in respect of contracts in securities, following an application under Section 3 and on the basis that renewal is in the interest of trade and the public; the grant is subject to conditions specified in the notification and to any further conditions prescribed or imposed.

Renewal of recognition to a stock exchange granted for a further one year, subject to prescribed conditions.
Renewal of recognition is granted to Ludhiana Stock Exchange Association Limited for a further period of one year commencing 28 April 2001 and ending 27 April 2002 in respect of contracts in securities, exercised under Section 4 after satisfaction that renewal is in the interest of trade and the public; the grant is subject to conditions that may be prescribed or imposed hereafter.

Foreign Institutional Investor disinvestment permission required on non-renewal; mandates Board approval and stipulated exit timeframe.
An FII that does not renew registration or fails to apply for renewal must obtain Board permission, at expiry of registration, to disinvest securities held on its own account or for sub-accounts within a stipulated time and subject to Board-specified terms and conditions. The amendment also adds commercial paper to the instruments covered under regulation 15, inserting the term into the explanation and provisos to relevant sub-regulations to align it with government securities and treasury bills.

SEBI notification amendment: appointment of Dr Rakesh Mohan as Member and Adviser to the Finance Minister.
Amendment to a Government of India notification under the SEBI Act substitutes the entry at serial number 2, appointing Dr. Rakesh Mohan as Member, who will serve as Adviser to the Finance Minister in the Ministry of Finance, Department of Economic Affairs.

Amendment of notification: replaces the designated SEBI member name in a statutory appointment notification under the SEBI Act.
The Central Government, exercising powers under the SEBI Act, amended notification No. 195(E) (Gazette of India, Extraordinary, Part II, Section 3(ii), dated 9 March 1992) by substituting the name "Dr. P.L. Sanjeev Reddy" with "Shri V. Govindarajan," recorded as S.O. 88(E) dated 31 January 2001, with prior amendments noted in the footnote.

Mutual fund valuation rules: thinly traded and illiquid securities valuation and 15% illiquid holdings cap enforced by guidelines.
The amendment revises valuation, concentration and disclosure rules under the SEBI (Mutual Funds) Regulations, 1996: it substitutes a prior numerical threshold from sixty to thirty, mandates valuation of thinly traded securities per Board guidelines, caps aggregate illiquid securities at 15% of scheme assets with prescribed valuation for excess, requires provisioning for accrued but unpaid investment income per guidelines, and requires balance sheets to disclose aggregate carrying and market value of non-performing investments defined by absence of dividend or interest for the guideline-specified period.