June 15, 1998
PR No. 148/1998

Warning to M/s Shree Ram & Co (DSE) & M/s S.R.Uppal & Co (LSE)

Secondary Market Dept.

TEXT

The Securities and Exchange Board of India (SEBI) has warned M/s S. R. Uppal & Co.(SEBI REG.NO. INB120712219) member of Ludhiana Stock Exchange for not maintaining "Chopri", not obtaining clients consent while acting as principal, not affixing broker note stamp on contract notes, delay in making payments to clients, misutilisation of Exchange mechanism for finance deals with fellow members and failure to operate separate bank account for clients and M/s Shree Ram & Co.,(SEBI REG.NO. INB050098119) member of Delhi Stock Exchange for not printing SEBI registration number on the face of Contract Notes, not obtaining Clients� Consent while acting as principal, not operating separate Bank Account for Clients, dealing with unregistered Sub-brokers and not reporting off the floor transactions. 
 
The warnings have been issued in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992.