The exchange's request for postponement of the AGM was sought on the ground that its annual accounts will take some time before being presented. According to sources, the exchange did not give up the matter and again wrote to the registrar of companies seeking the extension for one month.

However, sources said that the extension has now been given for only 15 days and the AGM will now be held on October 15, 1999. At the AGM, the term of the present president of JSEL, Sunil Godha, will end and in his place, a new incumbent will be elected within 10 days. The AGM will also elect three directors in place of Ramesh Mantri, R K Natani and Sunil Godha.