ACTION AGAINST THE BROKER

The Securities and Exchange Board of India (SEBI) has suspended Shri Prashant Jain , member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB 100831018) for a period of three months or till payment of SEBI fees, whichever is later. The penalty is imposed for indulging in unauthorised carry forward transactions, not reporting off-the-floor transactions to the Stock Exchange and not maintaining clear segregation between clients' fund and own funds. 

Shri Prashant Jain , member of Uttar Pradesh Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from May 27, 2002 till August 26, 2002 or till payment of SEBI fees, whichever is later.