SUSPENSION OF HITESH K. CHOTAI
 
SECONDARY MARKET DEPARTMENT – DBA-I

The Securities and Exchange Board of India (SEBI) has suspended Shri Hitesh K. Chotai, member of Saurashtra Kutch Stock Exchange, (SEBI Reg. No. INB 180593812) for a period of six months. He has been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for not maintaining Sauda Book, Documents Register and Clients’ Ledger, irregularities in issuance of contract notes, indulging in carry forward transactions, not maintaining separate Clients’ Bank account, dealing with unregistered sub brokers and off-the-floor transactions not reported to the Stock Exchange. 
 
Shri Hitesh K. Chotai, member of Saurashtra Kutch Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from January 08, 1999 till July 07, 1999.