Sebi suspends three brokers

Sebi suspends three brokers
PRESS TRUST OF INDIA

Kolkata, Jan 21: The Securities and Exchange Board of India (SEBI) has suspended registration of three BSE brokerage firms for two to six months for involvement in alleged price rigging of North Star Gems (India) Limited (NSGIL) scrips.

“The brokers, Satyanarayan Investments and Kirti J Shah, have violated the provision of regulation 7 A (2) Schedule II of Rules and Regulations, 1992 and in view of this their registration has been cancelled,” SEBI sources said. The order to this effect was passed on Friday and would come into force with immediate effect, the sources said.