The Securities and Exchange Board of India (Sebi) on Wednesday superseded the board of the Ahmedabad Stock Exchange (ASE) and appointed an administrator in consultation with the state government. Sebi officials were not available to comment on the move. ASE sources said that Sebi had warned the bourse to stop carry forward trading on the exchange six months back.
According to Anjani Sinha, executive director of ASE, following the Sebi inspection six months back, the bourse management had initiated steps to stop all irregularities on the bourse. He refused to comment whether carryforward trading was still being continued on the exchange.
