Action against Broker

The Securities and Exchange Board of India (SEBI) has suspended M/s Shilpa Shares & Securities Ltd., member of National Stock Exchange (SEBI Reg. No. INB 230662822) for a period of three months for not maintaining written consents of clients' in respect of contracts entered into as principal, not maintaining clear segregation between clients' fund and own funds, not reporting off-the-floor transactions to the Stock Exchange and misusing the clients' account. 

M/s Shilpa Shares & Securities Ltd. , member of National Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from May 20, 2002 till August 19, 2002.