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Drumbeat: Ad Buzzaar
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Tuesday, June 23, 1998
Shah committee mulls overall margin system
OUR MARKET BUREAU
MUMBAI, June 22: The BD Shah committee on short sales met on Monday to review the current market scenario in the wake of Sebi imposing restrictions on short sales. According to BSE president, JC Parekh and a member of this committee, the members were called upon to find out what measures should be taken to tackle the current scenario.The committee was also said to have explored the possibilities in terms of margins on short sales and an overall margin system. "Considering the US markets where the `down tick rule' is implemented, and short-sellers are restricted from going short on the market especially when the market is moving in the southward direction, some of the members proposed that such a measure needs to be implemented in the Indian market as well," explained a committee member. However, differences of opinion in this regard and discussions on various issues regarding rules on short sales left the meeting unconcluded. The Sebi appointed Inter exchange surveillance committee is likely to meet onJune 25. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.

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