November 21, 1997
PR No. 140/1997

WARNING TO M/S BRILLIANT & CO.
SECONDARY MARKET DEPARTMENT

The Securities and Exchange Board of India (SEBI) inspected M/s Brilliant & Co., member of Madras Stock Exchange as per its order dated March 15, 1996. On the basis of the inspection report, enquiry was ordered by the Chairman, SEBI on January 24, 1997 as per sub-regulation (1) of Regulation 28 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992. 

The Enquiry Officer found the broker guilty for violating the clause B (1) of Code of Conduct specified under SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992 for not making prompt payment to the clients. Subsequently the broker replied to the alleged violation about prompt payment to the clients. SEBI has taken serious view of the matter and warned the member not to repeat such violation in future. 
SMD