January 03, 2007
PR No. 02/2007

Order against M/s. Damani Share & Stock Brokers Pvt. Ltd., M/s. Maheshwari Equity Brokers Pvt. Ltd. and M/s. Avenue Stock Brokers (I) Pvt. Ltd. in the matter of M/s. R.S.Damani Group

Shri V.K.Chopra, Whole Time Member, SEBI, passed an order dated January 2, 2007 against M/s. R.S.Damani group of brokers - M/s. Damani Share & Stock Brokers Pvt. Ltd., M/s. Maheshwari Equity Brokers Pvt. Ltd. and M/s. Avenue Stock Brokers (I) Pvt. Ltd. imposing a minor penalty of Censure for not complying with SEBI Circular No.SMDRP/Policy/Cir-11/99 dated May 07, 1999.



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SEBI Circular No.SMDRP/Policy/Cir-11/99 dated May 07, 1999, inter-alia, states: �It has further been decided that stock brokers/clearing house members shall give instructions to clearing house/clearing corporations for transferring the securities lying in the broker�s pool accounts/transit accounts to the respective beneficiary accounts immediately after the pay-out of each settlement. Stock brokers/clearing house member shall also ensure that the respective balance in their pool account/transit account maintained with the depository is brought to nil within fifteen days from the pay-out of the settlement.�
 

Mumbai

January 03, 2007

For full copy of order against AVENUE STOCK BROKERS (INDIA) PVT.LTD., click here.

For full copy of order against DAMANI SHARES & STOCK BROKERS PVT.LTD., click here.

For full copy of order against DAMANI SHARES & STOCK BROKERS PVT.LTD., click here.

For full copy of order against MAHESHWARI EQUITY BROKERS PVT.LTD., click here.

For full copy of order against MAHESHWARI EQUITY BROKERS PVT.LTD., click here.