Suspension of Broker

The Securities and Exchange Board of India (SEBI) has suspended Shri Jagdish Prasad Bhartia (Trade Name: J. Bhartia & Co.), member of Calcutta Stock Exchange (SEBI Reg. No. INB 030932414) for a period of six months. The penalty is imposed for not maintaining order book, irregularities in issuance of contract notes, not maintaining document register and Margin Deposit Book, irregularities in maintenance of Clients’ database, not maintaining strict segregation between clients' funds and own funds, delay in payment to clients and delay in transfer of securities from Pool account to Clients’ Beneficiary account.


Shri Jagdish Prasad Bhartia (Trade Name: J. Bhartia & Co.), member of Calcutta Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from January 14, 2003 till July 13, 2003.