PRESS RELEASE

The Securities and Exchange Board of India (SEBI) has suspended Shri Padam Chand Jain, member of Gauhati Stock Exchange (SEBI Reg. No. INB 130337114) 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 failure to produce books of accounts, other records and documents for inspection. 

Shri Padam Chand Jain,, member of Gauhati Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from March 09, 1999 till September 08, 1999.