Action against Broker

The Securities and Exchange Board of India (SEBI) has suspended M/s Usha Garg & Co., member of Ludhiana Stock Exchange (SEBI Reg. No. INB120958810) for a period of two months or till the payment of balance SEBI fees, whichever is later. The penalty is imposed for not reporting off-the-floor transactions to the Stock Exchange, not maintaining clear segregation between clients' fund and not paying adequate SEBI fees 

M/s Usha Garg & Co., member of Ludhiana Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from May 27, 2002 till July 26, 2002 or till payment of balance SEBI fees, whichever is later.