September 28, 2001
PR No. 170/2001
Suspension of Broker
The Securities and Exchange Board of India (SEBI) has suspended Shri Sharad Kumar Balchand Shah, member of Pune Stock Exchange (SEBI Reg. No. INB 110239410)) for a period of one month for not reporting off-the-floor transactions to the Stock Exchange, not obtaining written consent of clients for transactions executed on Principal to Principal basis, irregularities in issuance of Contract notes, not maintaining proper segregation between Clients' Funds and Own Funds and indulging in unauthorised Carry Forward Transactions.
Shri Sharad Kumar Balchand Shah, member of Pune Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from October 01, 20001 till October 31, 2001.