ACTION AGAINST THE BROKER

The Securities and Exchange Board of India (SEBI) has suspended M/s C. Mackertich Ltd., member of Calcutta Stock Exchange (SEBI Reg. No. INB 030879337) (formerly known as M/s C. Mackertich) for a period of six months for acting as sub broker without obtaining registration from SEBI, not maintaining clear segregation between clients' fund and own funds, not reporting off-the-floor transactions to the Stock Exchange and indulging in unauthorised carry forward transactions.
 
M/s C. Mackertich Ltd., member of Calcutta Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from May 27, 2002 till November 26, 2002.