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Sebi board to meet Fri to discuss SE' corporatisation

The board of Securities and Exchange Board of India will meet in Mumbai on Friday and is expected to discuss the progress of Justice Kania Committee report on corporatisation of stock exchanges.

It is also likely to give a final hearing to the banned stock broker Shankar Sharma, owner of the First Global Stock Broking, sources said.

The board is also expected to discuss in details the recommendations of the takeover panel headed by Justice P N Bhagwati along with the feedback received from the general public, the sources said.

The Sebi board is likely to deliberate on the written submission filed by the First Global Group as directed by the regulator in its earlier meeting held on June 24.

This is SEBI's second board meeting in Mumbai after G N Bajpai took over as the chairman in February this year.

The board meeting was supposed to have been held on August 2 but was postponed as some of the board members could not attend.

The regional stock exchanges are waiting for the submission of Justice Kania Committee report on demutualisation and corporatiosation as the merger proceedings of regional stock exchanges such as Delhi Stock Exchange and corporatisation of the Bombay Stock Exchange has been held up in the absence of necessary guidelines, market sources said.

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