ABOUT LUDHIANA STOCK EXCHANGE The Ludhiana Stock Exchange Limited was established in 1981, by Sh. S.P.

Oswal of Vardhman Group and Sh. B.M. Lal Munjal of Hero Group, leading industrial luminaries, to fulfill a vital need of having a Stock Exchange in the region of Punjab, Himachal Pradesh, Jammu & Kashmir and Union Territory of Chandigarh. Since its inception, the Stock Exchange has grown phenomenally. The Stock Exchange has played an important role in channelising savings into capital for the various industrial and commercial units of the State of Punjab and other parts of the country. The Exchange has facilitated the mobilization of funds by entrepreneurs from the public and thereby contributed in the overall, economic, industrial and social development of the States under its jurisdiction. Ludhiana Stock Exchange is one of the leading Regional Stock Exchange and has been in the forefront of other Stock Exchange in every spheres, whether it is formation of subsidiary for providing the platform of trading to investors, for brokers etc. in the era of Screen based trading introduced by National Stock Exchange and Bombay Stock Exchange, entering into the field of Commodities trading or imparting education to the Public at large by way of starting Certification Programmes in Capital Market. The vision and mission of Stock Exchange is: "Reaching small investors by providing services relating to Capital Market including Trading, Depository Operations etc and creating Mass Awareness by way of education and training in the field of Capital Market. To create educated investors and fulfilling the gap of skilled work force in the domain in Capital Market." Further, the Exchange has 295 members out of which 162 are registered with National Stock Exchange as Sub-brokers and 121 with Bombay Stock Exchange as sub-brokers through our subsidiary. DETAILS OF PRESIDENTS AND VICE PRESIDENTS PRESIDENTS/ CHAIRMEN Sr. No. 1 2 3 Name of the person Sh. S.P. Oswal Sh. B.M. Lal Munjal Sh. V.N. Dhiri Tenure 16.08.1983 to 27.07.1986 28.07.1986 to 15.10.1989 16.10.1989 to 30.10.1992 30.09.1998 to 04.10.2000

4 5 6 7 8 9 10 11

Sh. G.S. Dhodi Sh. Jaspal Singh Sh. M.S. Gandhi Sh. R.C. Singal Dr. B. B. Tandon, Chairman Sh. S.P. Sharma, Chairman Sh. Jagmohan Krishan Prof Padam Parkash Kansal

31.10.1992 to 22.12.1993 23.12.1993 to 05.10.1995 01.10.1996 to 29.09.1998 06.10.2001 to 01.07.2002 06.10.1995 to 30.09.1996 05.10.2000 to 05.10.2001 25.06.2007 to 10.12.2007 15.07.2007 to 23.09.2008 23.09.2008 to 29.09.2009 30.09.2009 to till date

VICE PRESIDENTS/ VICE CHAIRMEN Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Name of the person Sh. Rajinder Verma Sh. B.K. Arora Sh. G.S. Dhodi Sh. B.S. Sidhu Sh. D.P. Gandhi Sh. M. S. Sarna Sh. T.S. Thapar Sh. Tarvinder Dhingra Dr. Rajiv Kalra Sh. D.K. Malhotra, Vice Chairman Sh. Jagmohan Chairman Krishan, Vice Tenure 14.07.1984 to 08.08.1987 09.08.1987 to 15.10.1989 31.10.1992 to 22.12.1993 28.10.1991 to 30.10.1992 16.10.1989 to 27.10.1991 23.12.1993 to 05.10.1995 06.10.1995 to 26.09.1997 27.09.1997 to 29.09.1998 30.09.1998 to 04.10.2000 05.10.2000 to 05.10.2001 06.10.2001 to 01.07.2002 025.06.2007 to 10.12.2007 15.07.2007 to 23.09.2008 23.09.2008 to 08.10.2008 09.10.2008 to 29.09.2009 30.09.2009 to till date

Sh. Ravinder Nath Sethi Prof Padam Parkash Kansal Sh. Joginder Kumar

GOVERNANCE AND MANAGEMENT

LSE has a strong governance and administration, which encompasses a right balance of Industry Experts with highest level educational background, practicing professionals and independent experts in various fields of Financial Sector. The administration is presently headed by Sr. General Manager CUM Company Secretary and team of persons having indepth knowledge of Secretarial, Legal and Education & Training. The Governing Board of our Exchange comprises of eleven members, out of which two are Public Interest Directors, who are eminent persons in the fields of Finance and Accounts, Education, Law, Capital Markets and other related fields, Six are Shareholder Directors, and Three are Broker Member Director and the Exchange has four Statutory Committees namely Disciplinary Committee, Arbitration Committee, Defaults Committee and Investor Services Committee. In addition, it has advisory and standing committees to assist the administration LSE has a Code of Conduct in place that governs the elected Board Members and the Senior Management Team. The same is monitored through periodic disclosure procedures. The Exchange has an Ethics Committee, which looks into any issue of conflict of interest and has in place general code of conduct for the Senior Officials. The composition of the Governing Board is as under:Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 Name of Director Prof. Padam Parkash Kansal Sh. Joginder Kumar Sh. Rajinder Mohan Singla Sh. Satish Nagpal Sh. Vikas Batra Sh. Varun Chhabra Dr. Raj Singh Sh. Ashwani Kumar Sh. V.P. Gaur Sh. Jaspal Singh Sh. Sunil Gupta Sh. Sanjay Anand Category Chairman (Shareholder Director) Vice (Shareholder Director) Shareholder Director Shareholder Director Shareholder Director Shareholder Director Registrar of Companies (Public Interest Director) Public Interest Director Public Interest Director Trading member Director Trading Member Director Trading member Director Chairman

STRENGTHS OF LSE GROUP

1. LSE brand is popular among masses. The brand image of LSE can be capitalized. 2. We have requisite infrastructure for the Capital Market activities which includes a multi-storeyed, centrally air conditioned building situated in the financial hub of the city i.e. Feroze Gandhi Market. 3. We have well experienced staff handling operations of Stock Exchange. 4. We have competent Board and professional management. 5. We have much needed networking of sub brokers in the entire region, who are having rich experience in Stock Market operations for the last 25 years. 6. . We have more than 40,000 clients spread across Punjab, Himachal Pardesh, Jammu & Kashmir and adjoining areas of Haryana and Rajasthan. 7. The turnover of our subsidiary is the highest amongst all subsidiaries of Regional Stock Exchanges in India. INFRASTRUCTURE EXCHANGE AND ASSETS BASE AT LUDHIANA STOCK

The Exchange building is situated at Feroze Gandhi Market, Ferozepur Road, Ludhiana. It is a six storeyed building, which is centrally air-conditioned. The building has 262 rooms, which are located on various floors ranging from second to fifth. The first floor of the building houses the administrative office and rooms from second to fifth floors have been leased out to brokers. The first floor also has canteen and banking facilities. Investor Service Centre is also located at first floor which houses a well-equipped library and view-terminals to provide live rates of NSE and BSE to investors. Investors are also provided with Cable TV for the purpose of viewing the latest happenings in the Capital Market and around. Basement of the building has air-conditioning plant and Generators to provide air-conditioned environment and twenty-four hours power back up. The Exchange has also an additional plot of land measuring 2333 sq. yards in the prime location of city, to enhance its infrastructure and source of income. STATUS OF OUR SUBSIDIARY I.E LSE SECURITIES LIMITED Due to Nation wide reach of bigger Stock Exchanges, the trading volumes at Ludhiana Stock Exchange declined and ultimately, the trading stopped in February, 2002, but the Stock Exchange converted the threat of bigger Exchanges into opportunities and acquired the corporate membership of these exchanges through its subsidary company i.e. LSE Securities Limited. We have now been providing Trading Platforms of Bigger Stock Exchanges to the Investors of the region. The vast network of Brokers of the Exchange is servicing millions of Investors. The subsidiary company is also providing depository services in the State of Punjab and Himachal Pradesh. The allied services like PAN Service Centre, Investor Service Centres are also being provided at major locations of the region.

The turnover of subsidiary is highest amongst all the subsidiaries of Regional Stock Exchanges. The growth of subsidiary is swift and it has been providing a range of services to the public at large such as Trading, Depository, IPO bidding collection Centre. The Company in its continuous endevour to provide qualitative services to its valued clients, has started e-broking trading services for its clients, thereby increasing the geographical reach of the company. LISTING OF SECURITIES OF COMPANIES AT LUDHIANA STOCK EXCHANGE At present, Ludhiana Stock Exchange has 330 listed companies, out of which 214 are regional and 116 are Non-regional. The total listed capital of aforesaid companies is Rs. 3168.91 Crores appx. The market capitalization of the said companies is more than Rs. 3372.34 crores. The Stock Exchange is covering the vast investor base through the listing of abovesaid companies, which are situated in the region comprising of Punjab, Himachal Pardesh, Jammu & Kashmir, Chandigarh. Despite the fact, the implementation of SEBI (Delisting of Securities) guidelines, 2003 has resulted into the Delisting of good companies listed at Exchange, however still there are leading Companies listed with our Exchange, notable among them are United Breweries Limited, Vardhman Acrlyics Limited, SMC global securities limited, Himachal Futuristic Communications Limited etc. Ludhiana Stock Exchange has facilitated the capital generation for agro based industries as Punjab is a agricultural led economy. It will continue to do so, once it gets approval for a tie up with bigger Exchanges for commencing trading operations.

INVESTOR RELATED SERVICES The Exchange has been providing a variety of services for the benefit of investing public. The services include Investor Service Centres, Investor Protection fund and Investor Educational Seminars. (i).Investor Service Centres The Exchange has set-up Investor Service Centres at various DP branches of its subsidiary for providing information relating to Capital Market to the general public. The Centres subscribe to leading economic, financial dailies and periodicals. They also store the Annual Reports of the companies listed at the Stock Exchange. The Investor Service Centres are also equipped with a Terminal for providing live rates of trading at NSE and BSE. A large number of the investors visit the centres to utilize the services being provided by the Exchange. (ii).Investor Awareness Seminars

The Exchange has been organizing Investor Awareness Seminars for the benefit of Investors of the region comprising State of Punjab, Himachal Pradesh, Jammu & Kashmir, Chandigarh and adjoining areas of Haryana and Rajasthan. This massive exercise of organizing Investor Awareness Seminars has been launched as a part of Securities Market Awareness Campaign launched by SEBI in January, 2003. The Exchange apprises the investors about Dos and Donts to be observed while dealing in Securities Market. Till date, Exchange has organized more than 200 workshops in the region mentioned above.