SUB: SUSPENSION OF BROKER
 
SECONDARY MARKET DEPARTMENT

The Securities and Exchange Board of India (SEBI) has suspended Shri Mahipat Raichand Shah, member of Ahmedabad Stock Exchange (SEBI Reg. No. INB 020126118) for a period of two months for not maintaining Margin Register, Written consent of the clients for Principal to Principal transactions and Document Register, providing wrong information to SEBI, dealing with brokers of other Stock Exchanges without getting registered as sub brokers, irregularities in issuance of Contract notes, not maintaining proper segregation between Clients' Funds and Own Funds, indulging in illegal Carry Forward Transactions, not reporting Off-the-floor transactions and executing fictitious transactions. 
Shri Mahipat Raichand Shah, member of Ahmedabad Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from August 06, 2001 till October 05, 2001.