January 09, 1998
PR No. 06/1998

SUSPENSION OF M/s.Sareen & Co.
Secondary Market Dept.

The Securities and Exchange Board of India (SEBI) has suspended M/s Sareen & Co., member of Delhi Stock Exchange, for a period of one year with effect from January 16, 1998. M/s Sareen & Co. have been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for indulging in price manipulation and creation of false market in the scrip of M/s M. S. Shoes (East) Limited in order to prop the price in collusion with the promoters of the company. 
 
M/s Sareen & Co. will not be entitled to carry on the business as a Stock Broker with effect from January 16, 1998 to January 15, 1999.