September 02, 1998
PR No. 246/1998

SUSPENSION OF SHRI VALLABHH BANGUR, MEMBER OF MAGADH STOCK EXCHANGE
Secondary Market Dept.

The Securities and Exchange Board of India (SEBI) has suspended Shri Vallabhh Bangur, member of Magadh Stock Exchange (SEBI Reg. No. INB 150432418) for a period of three months with effect from September 15, 1998. He has been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for irregularities in issuing contract notes, non-maintenance of books of accounts, not reporting off-market transactions to the Exchange, non-maintenance of separate client bank account, non-payment of SEBI turnover fees and non-fulfilment of capital adequacy requirement. 
 
Shri Vallabhh Bangur, member of Magadh Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from September 15, 1998 till December 14, 1998 or till he fulfils SEBI�s requirement relating to capital adequacy and payment of turnover fees, whichever is later. 
 
SMD
September 1, 1998