Stock Exchange, Bombay Stock Exchange Enquiry Committee

Mr. Meyer Nissim, an investor for 16 years, stated to the Bombay Stock Exchange Enquiry Committee that while the exchange rendered some good service in the past, latterly its conduct has left much to be desired. Dealings have assumed the nature of a deliberate gamble with rank speculation prevailing and working havoc, especially amongst the middle classes. To curb speculation, he suggested the "budlee" transactions should not be carried forward indefinitely and an independent Board of Appeal should be set up to settle disputes. He recommended outsiders be on the Stock Exchange Committee because the institution is for the benefit of the public, and their interests ought to be safeguarded.

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