November 04, 2004
PR No. 303/2004

Registration of Geeta Share Enterprises, Member of 

Uttar Pradesh Stock Exchange and a Sub-broker affiliated to 

UPSE Securities Ltd., suspended

Securities and Exchange Board of India (SEBI) has passed an order dated October 19, 2004, suspending the certificate of registration granted to Geeta Share Enterprises, (SEBI Registration No. INB100525611), member of the Uttar Pradesh Stock Exchange for a period of 6 (six) months with effect from November 09, 2004. The certificate of registration No. INS010788813/01-11168 granted to Geeta Share Enterprises as a sub-broker affiliated to the subsidiary of UPSE i.e. UPSE Securities Ltd. by virtue of its primary membership with UPSE has also been suspended for the corresponding period.
 
The order has been passed by SEBI against Geeta Share Enterprises for irregularities in issuance of contract notes, dealing as unregistered sub-broker of brokers of other exchanges, entering into illegal carry forward transactions, non-reporting of off-the-floor transactions, non-maintenance of client database, non-segregation of own funds vis-à-vis clients funds, delay in payment of money, delay in settlement of investor complaints etc.
 
Geeta Share Enterprises, member of the Uttar Pradesh Stock Exchange will not be entitled to carry on the business as a stock broker as also a sub-broker with effect from November 09, 2004 till May 08, 2005.
 
 
Mumbai
 
November 04, 2004