The governing board elections at the Bombay Stock Exchange appears to be a keen contest. Fifteen broker-members have filed nominations for seven seats on the 15-member governing board on February 19, the last date for filing nomination.
Meanwhile, 7 seats will be representative and one public nominee. The election for the governing board for 2002-03 will be held on March 6, while the last date for withdrawing nomination is February 25.
The Securities Exchange Board of India (Sebi) had allowed brokers as directors on the governing board of exchanges, but disallowed them to be office bearers. Last year, Sebi had disallowed elected members to represent on the board after the former BSE president was accused in seeking market sensitive information.
Prakash R Kacholia, Shripal Jain, N V Shah, Mahendra Shah, Dilip Bagri, Ameet Dalal, Mahendra G Rambhia, Siddharth Shah, Amit Dalal and Alok Churiwala are among the 15 members, who have filed nominations.
Some brokers, however, expect a number of members to back out. However, these elections are expected to bring back normalcy in the functioning of the BSE. A senior board member said several crucial decision regarding expansion and opening of new offices would be taken once a full-fledged board is in place.
