June 26, 1998
PR No. 167/1998

Suspension of M/s. Yadav & Co. - Member Delhi Stock Exchange

Secondary Market Dept.

The Securities and Exchange Board of India (SEBI) has suspended M/s Yadav & Co., member of Delhi Stock Exchange, for a period of three months with effect from June 30, 1998. M/s Yadav & 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 and also for non-issuance of contract notes in prescribed format, not maintaining proper books of accounts, non payment of Stamp duty on the contract notes and not informing about the change of address of the operation of the business to SEBI.
 
 
M/s Yadav & Co. will not be entitled to carry on the business as a Stock Broker with effect from June 30, 1998 to September 29, 1998. 
 
SMD 
 
June 26, 1998