June 11, 1998
PR No. 142/1998

SUSPENSION OF M/s R.C.M.Broking Services Ltd.


The Securities and Exchange Board of India (SEBI) has suspended M/s. R. C. M. Broking Services Ltd. (Sebi Registration No.INB050755639), member of Delhi Stock Exchange, for a period of five months with effect from June 15, 1998. M/s. R. C. M. Broking Services Ltd. have been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for indulging in price manipulation and creation of false market in the scrip of M/s M. S. Shoes (East) Limited in order to prop the price in collusion with the promoters of the company and also for non-issuance of contract notes in prescribed format, non-maintenance of Margin deposit book, not obtaining clients consent while acting as principal and not reporting off the floor transactions.
M/s. R. C. M. Broking Services Ltd. will not be entitled to carry on the business as a Stock Broker from June 15, 1998 to November 14, 1998.