December 13, 2001
PR No. 216/2001
Cancellation of Registration
The Securities and Exchange Board of India (SEBI) has cancelled the registration of M/s Broad Line Capfin Services (P) Ltd. and M/s Leaprofin Securities Ltd., members of National Stock Exchange and M/s Vikrant Capital Services Pvt. Ltd., member of Mangalore 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.
The said brokers belong to M/s Hoffland Group of companies and have been expelled by their respective Stock Exchanges. They have ceased to be members of the respective Exchanges, thereby failed to fulfill the pre-requisite condition of registration as brokers with SEBI.
M/s Broad Line Capfin Services (P) Ltd., M/s Leaprofin Securities Ltd. and M/s Vikrant Capital Services Pvt. Ltd. will not be entitled to carry on the business as a Stock Broker with immediate effect.