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| November 9, 1998 |
BSE vice president quits following scam
Bombay Stock Exchange vice-president Rajendra Banthia, whose firm Harvest Deal Securities is among the 18 brokerages allegedly involved in price rigging of certain scrips, today submitted his resignation as vice-president of the country's premier bourse and also as member of its governing board.
The resignation letter of Banthia, addressed to the BSE president J C Parekh, was placed before the BSE governing board today and in terms of rules and bye-laws of the exchange, the resignation has been effective immediately, BSE executive director R C Mathur stated in a press release issued late this evening. ''My resignation has nothing to do with the alleged price rigging'', Banthia said, and added that he will file an appeal in the Supreme Court within the stipulated time. ''My fight for justice will continue,'' he remarked. UNI
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