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    <title>Order U/s 11 of the Securities Contracts (Regulation) Act, 1956 Superseding the Board of Directors of the Uttar Pradesh Stock Exchange Association Ltd.</title>
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    <description>SEBI, under Section 11 of the SCRA, superseded the Governing Board of UPSE for one year from July 12, 2002 due to sustained mismanagement, interference by elected broker directors, persistence of unofficial carry-forward transactions, surveillance and software deficiencies, failure to operationalize the SGF and noncompliance with SEBI directives; an independent Administrator was appointed to exercise all powers and duties of the Governing Board to implement corrective measures and protect investor interests.</description>
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