Cancellation/Suspension of Brokers

1. The Securities and Exchange Board of India (SEBI) has suspended Smt. Sumithra Muthu Kumar, (Trade Name: Sandilya & Co - SEBI Reg. No. INB040134214) member of Madras Stock Exchange for a period of four months or till such time the disciplinary suspension of the broker is revoked by Madras Stock Exchange whichever is later. They have been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for not reporting of off the floor transactions, not segregating clients' funds with own funds and failure to redress investor grievances. 
   
   Smt. Sumithra Muthu Kumar, (Trade Name: Sandilya & Co) member of Madras Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from January 06, 2000 till May 05, 2000 or till such time the disciplinary suspension of the broker is revoked by Madras Stock Exchange whichever is later. 

2. The Securities and Exchange Board of India (SEBI) has cancelled the registration of Shri P. Ramesh Kumar (Trade Name: M/s Shweta & Co. SEBI Reg. No. INB 080167310), member of Bangalore 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. Enquiry was initiated against the broker on the basis of various violations like not maintaining proper books/ documents, irregularities in issuance of contract notes, not maintaining proper segregation between clients’ funds and own funds, dealing with unregistered brokers and non-redressal of investors' complaints observed during the inspection of the books of accounts of the broker.

Also, the broker has surrendered its trading membership card to the Exchange.