New CSE administrator targets revival

Tushar Kanti Das, the Securities and Exchange Board of India (Sebi)-appointed administrator to the Calcutta Stock Exchange (CSE), said today he would take personal initiative to bring back Lyons Range members who had stopped trading on CSE to put the ailing bourse back on rails.

Talking to Business Standard today, the day after he was vested with executive powers of the CSE board by Sebi for a year, Das said the move was aimed at "building trust" between members and the exchange.

"Building trust", he said, was all important for an exchange to do business. "I have told the CSE officials today that CSE and brokers are partners. Our common objective is to protect investors' interest. We should act like partners in a completely transparent atmosphere," he said.

Simultaneously, his efforts would be directed at "short term crisis management" through preparation of annual reports for two years beginning 2001-02, audit settlement guarantee fund account and demutualisation report.