November 16, 1998
PR No. 307/1998

CANCELLATION OF REGISTRATION OF M/s NRI FINANCIAL 
SERVICES Ltd., MEMBER, NATIONAL STOCK EXCHANGE 

SECONDARY MARKET DEPARTMENT 

TEXT

The Securities and Exchange Board of India (SEBI) has cancelled the registration of M/s NRI Financial Services Ltd., member of National Stock Exchange, with immediate effect. The registration has been cancelled in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992. The registration has been cancelled in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992. Enquiry was initiated against the broker on the basis of several complaints received against him for non-redressal of the complaints. 
 
M/s NRI Financial Services Ltd., will not be entitled to carry on the business as a Stock Broker with immediate effect.