| September 29, 1998 PR No.
                    266/1998
 SUSPENSION OF MERCHANT BANKING REGISTRATIONPRIMARY MARKET DEPARTMENT
 The Securities and Exchange Board of India (SEBI) has suspended the certificate of registration till the remaining period of their registration of M/s Naren V Sheth, Category IV Merchant banker w.e.f. September 22, 1998 for their failure to pay annual registration fees due for the year 1996-97.
                       |