July 02, 2004
PR No. 141/2004

Certificate of registration of a stock broker of 
 
OTC Exchange of India cancelled

The Securities and Exchange Board of India (SEBI) has passed an order dated June 22, 2004 cancelling the certificate of registration of M/s Piton Securities Ltd. (SEBI Registration No. INB200832631) erstwhile member of OTC Exchange of India with immediate effect.
 
The aforesaid stock broker was expelled from the Stock Exchange and ceased to be a member of the Exchange, thereby failed to fulfill the pre-requisite condition of registration as stock broker with SEBI.
 
The registration has been cancelled in terms of Sub-Regulation (5) of Regulation 16 of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002.