May 22, 2007
PR No. 166/2007

Orders against three members of NSE in the matter of

M/s. Morepen Hotels Ltd.

Dr. T.C.Nair, Whole Time Member, SEBI, has passed orders dated May 21, 2007 against three members of National Stock Exchange of India Ltd. (NSE), viz., M/s. Toss Financial Services Pvt. Ltd., M/s. GSB Securities Pvt. Ltd. and M/s. Shreepati Holdings and Finance Pvt. Ltd. imposing penalties of �censure�.
 
The three stock brokers have been found to have violated Clause A (2) of the Code of Conduct as specified in Schedule II of Regulation 7 of the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992. Therefore, the three stock brokers have been censured to the effect that they should be careful in future and exercise due skill, care and diligence in the conduct of their affairs as capital market intermediaries. The three stock brokers have also been directed to note that any instances of violation or non-compliance of the SEBI Act and Rules and Regulations in future shall be dealt with stringently.

 
Mumbai

May 22, 2007

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

For full copy of order against SHREEPATI HOLDINGS & FINANCE PVT.LTD., click here.

For full copy of order against TOSS FINANCIAL SERVICES PVT.LTD., click here.