The Stock Exchange of Thailand has demanded TPI Polene PCL (TPIPL.TH) to remove director and founder Prachai Leophairatana. He is no longer qualified to sit on the company's board, the Stock Exchange officials said. The SET said in a declaration late Tuesday that TPI Polene may fail to meet listed-company qualifications. It may face mandatory desisting if it resists conforming to SET demands. Prachai Leophairatana was blacklisted as a director of a mentioned company following charges in 2004. He was involved in manipulating the share price of TPIPL. TPIPL was commanded to remove Prachai by Jan. 11. Except TPIPL, Prachai also sits on the board of directors of Thai Petrochemical Industry PCL (TPI.TH) and Bangkok Union Insurance PCL (BUI.TH). The SET has already advised both companies to remove Prachai. But they have ignored the warnings.

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