PRESS RELEASE - SEBI
January 05, 1999
PR No. 02/1999

SUSPENSION OF NIKHIL SECURITIES LTD
 
SECONDARY MARKET DEPARTMENT DBA-I

The Securities and Exchange Board of India (SEBI) has suspended M/s Nikhil Securities Ltd., member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB 100749939) for a period of three months. He has been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for indulging in carry-forward transactions, for misusing debit note facility of the Stock Exchange and dealing with unregistered sub-brokers. 
 
M/s Nikhil Securities Ltd., member of Uttar Pradesh Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from January 12, 1999 till April 11, 1999.