August 30, 2004
PR No. 201/2004

Registration of M/s. NAM Securities Ltd., suspended

The certification of registration of M/s.NAM Securities Ltd. has been suspended for a period of six months. The order has been passed by Shri A.K.Batra, Whole Time Member, on August 19, 2004 under Regulation 13(4) of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, suspending the certificate of registration no. INB230771039 of the broker M/s. Nam Securities Ltd. member of National Stock Exchange of India Ltd. The order will be effective from three weeks from the date of the order. 
 
Pursuant to investigations conducted in the matters of the dealing in the scrip of M/s. Eider Infotech Ltd., an enquiry officer was appointed to look into the possible violations of law by M/s.Nam Securities Ltd. 
 
Subsequently, it has been concluded that the irregular trading practices of M/s.Nam Securities Ltd, had lead to the steep price rise in the scrip of M/s.Eider Infotech Ltd. and have been guilty of violating the provisions of Regulations 4(a), (b) and (d) of the SEBI(Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations 1995 and the provisions of clauses A(1-4)of the Code of Conduct as specified in Schedule II read with Regulation 7 of the SEBI (Stock Broker and Sub Brokers) Regulations, 1992.
 
 
Mumbai
 
August 30, 2004