SUSPENSION OF NIRUPAMA PATEL
 
SECONDARY MARKET DEPARTMENT – DBA-I

The Securities and Exchange Board of India (SEBI) has suspended Smt. Nirupama Patel, member of Madhya Pradesh Stock Exchange (SEBI Reg. No. INB 070162013) for a period of six months. She has been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for not maintaining books of accounts properly, not paying margin liability to the Exchange, irregularities in issuance of contract notes, not maintaining separate Clients’ Bank account, dealing with unregistered sub brokers, furnishing false information to SEBI, leasing the membership card of the Exchange, not submitting the audit report for the financial year 1995-96 to the Exchange and not complying with the Base Minimum Capital Requirement. 

Smt. Nirupama Patel, member of Madhya Pradesh Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from January 07, 1999 till July 06, 1999.