CALCUTTA, AUG 28: A sharp jump in bad debts and a hefty Rs five crore contribution to settlement guarantee fund SGF brought down surplus of Calcutta Stock Exchange Association Limited CSE to Rs 0.84 crore in 1998-99 from Rs 6.87 crore in 1997-98.
Director of the exchange Girish Mehta said a large portion of our earnings of around Rs ten crore were eaten up by compulsory contribution to SGF while growing cases of listed companies not paying listing fees inflated the bad debts.
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