June 18, 1998
PR No. 155/1998

Warning to Members, Delhi Stock Exchange


SECONDARY MARKET Dept.

TEXT

The Securities and Exchange Board of India (SEBI) has warned members of Delhi Stock Exchange viz., M/s Mefcom Securities & Stock Broker(SEBI REG. No.INB050087012), for non-segregation of clients� funds, dealing with unregistered sub-brokers, delay in delivery of securities to clients, not reporting off the floor transactions to Stock Exchange and not maintaining adequate base minimum capital, M/s. Sudhir Joshi & Associates (SEBI REG. No.INB050103917), for dealing with unregistered sub-brokers, not maintaining Margin Deposit Book, not maintaining hard copies of Books of Accounts, not collecting margin money from clients and M/s. R. Singhania & Co (SEBI REG. No.050098413) for for dealing with unregistered sub-brokers, failure to issue contract notes with pre-printed serial numbers, not reporting off the floor transactions, not complying with Securities Contracts(Regulation) Act, 1956 with regard to Spot transactions and not rectifying the Bad deliveries within the time limit prescribed by the Stock Exchange 
 
The warnings have been served in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992.