SUSPENSION OF REGISTRATION

The Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of Shri M. S. Narayana Murthy (Trade Name: M/s Ravi Chandra & Co.) , member of Bangalore Stock Exchange (SEBI Reg. No. INB 080169318) for a period of six months. The penalty is imposed for irregularities in maintenance of contract note, not maintaining segregation between clients’ fund and own funds, not maintaining order book, Margin Deposit book and general ledger, not maintaining client registration form and agreement in case of few clients and delay in transferring securities from broker’s pool account to client account.

Shri M. S. Narayana Murthy (Trade Name: M/s Ravi Chandra & Co.) , member of Bangalore Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from March 13, 2003 till September 12, 2003.