October 12, 2004
PR No. 269/2004

Registration of M/s. Shrikant G Mantri, Member of BSE, suspended

Pursuant to investigations conducted in the matters of the dealing in the scrip of M/s. Sawaca Business Machines Ltd. (formerly known as Sawaca Finance Ltd.) an enquiry officer was appointed to look into the possible violations of law by M/s. Shrikant G Mantri, stock broker of The Stock Exchange, Mumbai, bearing registration number INB010028216.
 
Subsequently, it has been concluded that M/s. Shrikant G Mantri having failed to notice that one of its clients was acting as a sub-broker and thus dealt with an un-registered sub-broker have violated the Code of Conduct as specified in Schedule II of Regulation 7 of SEBI (Stock Broker and Sub-Brokers) Regulation, 1992. Further, that M/s. Shrikant G Mantri facilitated, aided and abetted his ultimate client in creation of false market in price manipulation thereby violating the provisions of Regulation 4(a) &(b) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market), Regulations, 1995.
 
An order has been passed on October 06, 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. INB010028216 of the broker M/s. Shrikant G Mantri, member of The Stock Exchange, Mumbai for a period of three months. The suspension of the certificate shall come into force on the expiry of three weeks from the date of the Order. 
 
 
Mumbai
 
October 12, 2004