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PRESS TRUST OF INDIA
MUMBAI, Jan 6: The Securities and Exchange Board of India (Sebi) has suspended four brokers from different stock exchanges on account of various irregularities and failure to comply with regulations.
Nirupama Patel of Madhya Pradesh Stock Exchange, Hitesh Kchotai of Saurashtra Kutch Stock Exchange and Sharad Kumar Jain of Jaipur Stock Exchange have been suspended for a period of three months, while the brokerage firm, Nikhil Securities Ltd, has been barred from trading for three months. The market regulator also warned member of Ahmedabad Stock Exchange, Kalyanbhai Mayabhai Stock Brokers (P) Ltd, for not charging minimum brokerage, non-reporting of off-the-floor transactions and not maintaining separate client's bank account. Patel has been suspended till July 6 for non-maintenance of books of accounts, non-payment of margin liability to the exchange and irregularities in issuance of contract notes among others.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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