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Payment to the bourse will be my first priority, says ex-CSE chief

Emerging from nearly two months of self-imposed hibernation after being declared a defaulter, leading broker and former president of the Calcutta Stock Exchange, Dinesh Kumar Singhania, on Wednesday said his first priority will be to meet obligations to the exchange.

"At present I am out of funds, but as soon as some arrangement is made I will pay my entire dues to the exchange, which was about Rs 280 million," Singhania said.

"I would like to reiterate my commitment to the CSE, of which I have been a past president, and my first priority will be to meet my obligations to the exchange, not only to save the exchange but also to ensure the survival of my fellow brokers," he said.

Singhania, who was recently detained in Bombay by the police, alleged that a leading Bombay-based broker and his one time business associate was harassing him using the official machinery and said that he was contemplating legal action in this regard.

Singhania was among the ten brokers and entities who were declared defaulter after they failed to meet their payment commitment leading to a major payment crisis at the CSE in early March which had an all India repercussion.

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