PRESS RELEASE - SEBI

December 06, 2005
PR No. 155/2005

Order in the matter of Home Trade Ltd.

Securities and Exchange Board of India (SEBI) has passed the following order on November 30, 2005 against the following five brokers of Bangalore Stock Exchange and Pune Stock Exchange in the matter of Home Trade Ltd. : - 

  1. Suspended Certificate of Registration of M/s. Swagath Securities Ltd., SEBI Reg. No INB 081010335, member Bangalore Stock Exchange (BgSE) for a period of three months. The penalty is imposed for creation of false market coupled with surge in price in the scrip of Home Trade Ltd. and failure of the broker M/s. Swagath Securities Pvt. Ltd. to exercise due care and diligence in his dealings with the clients. The certificate of registration of M/s. Swagath Securities Ltd., member of BgSE will be suspended from December 21, 2005 till March 20, 2006. 
     

  2. Suspended Certificate of Registration of M/s. First Securities Pvt. Ltd., SEBI Reg. No INB 080631931, member Bangalore Stock Exchange (BgSE) for a period of 15 days. The penalty is imposed for creation of false market coupled with surge in price in the scrip of Home Trade Ltd. and failure of the broker M/s. First Securities Pvt. Ltd. to exercise due care and diligence in his dealings with the clients. The certificate of registration of M/s. First Securities Pvt. Ltd., member of BgSE will be suspended from December 21, 2005 till January 04, 2006. 
     

  3. Minor penalty of Censure on M/s. Nereyeth Securities Pvt. Ltd., SEBI Reg. No INB 081009531, member Bangalore Stock Exchange (BgSE). The penalty is imposed for failure to exercise due care, skill and diligence while dealing in the scrip of Home Trade Ltd. by M/s. Nereyeth Securities Pvt. Ltd.
     

  4. Suspended Certificate of Registration of M/s. Kabu Investment Services, SEBI Reg. No INB 110252417, member Pune Stock Exchange (PSE) for a period of one month. The penalty is imposed for creation of false market coupled with surge in price in the scrip of Home Trade Ltd. and failure of the broker M/s. Kabu Investment Services.to exercise due care and diligence in his dealings with the clients. The certificate of registration of M/s. Kabu Investment Services, member of PSE will be suspended from December 21, 2005 till January 20, 2006.
     

  5. Suspended Certificate of Registration of M/s. Jagannath Vinod Kumar, SEBI Reg. No INB 110241310, member Pune Stock Exchange (PSE) for a period of 15 days. The penalty is imposed for creation of false market coupled with surge in price in the scrip of Home Trade Ltd. and failure of the broker M/s. Jagannath Vinod Kumar.to exercise due care and diligence in his dealings with the clients. The certificate of registration of M/s. Jagannath Vinod Kumar, member of PSE will be suspended from December 21, 2005 till January 04, 2006.

 
Mumbai

December 06, 2005

For full copy of order against FEROZ S.GANGJI, click here.

For full copy of order against FIRST SECURITIES PVT.LTD., click here.

For full copy of order against JAGANNATH VINOD KUMAR,M/S, click here.

For full copy of order against KABU INVESTMENT SERVICES, click here.

For full copy of order against NEREYETH SECURITIES PVT.LTD., click here.

For full copy of order against SWAGATH SECURITIES PVT.LTD., click here.

For full copy of order against VINOD J.GUPTA, click here.