December 12, 1997
PR No. 08/1998

Suspension of Shri Vinod Kumar Kandoi- Member Calcutta Stock Exchange
Investigation Enforcement and Surveillance Dept.

SEBI conducted enquiries pertaining to sudden fall of index between the period October 1995 to January 1996. During the course of investigations, it was noticed that some of the brokers of Calcutta, Bombay and Pune Stock Exchanges were indulging in unauthorised carry forward of transactions and consequently there was depression of prices. Among others, SEBI also appointed an Enquiry Officer to enquire into these allegations in respect of Shri Vinod Kumar Kandoi, Member, Calcutta Stock Exchange. On the basis of the report submitted by the Enquiry Officer, a show cause notice was issued to the broker. After considering the reply to the show cause notice and the submissions made, SEBI has considered him guilty of violating the SEBI Act, 1992 and the SEBI (Stock Brokers and Sub Brokers) Regulations, 1992 and has passed the order suspending him for a period of three months. The suspension orders shall come into effect from January 15, 1997.