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ASE president, vice-president resign

In a sudden development, the Ahmedabad Stock Exchange president Dipak Shah, and vice-president Rajiv Shah have resigned and Mihir Shah has been appointed as the new president.

Mihir Shah, who took charge as president on Monday, said that Dipak Shah had resigned at a meeting of the ASE board of directors on Friday evening due to personal reasons.

He said Dipak Shah had told the board meeting that the Sebi circular banning the office bearers of the stock exchange from indulging in trading, had prompted him to resign as he wanted to continue with his business.

But sources in the directorial board of ASE said that there was a discontent against the president for not supporting the agitation of the ASE brokers against rolling settlement.

There were also differences among the few directors and the president on several issues.

However, the name of new vice-president has not been announced yet and selection process is on, the new president Mihir Shah said.

UNI

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