Suspension of Broker

The Securities and Exchange Board of India (SEBI) has suspended M/s J. V. S. Securities Ltd., member of Calcutta Stock Exchange (SEBI Reg. No. INB 030724038) for a period of six months. The penalty is imposed for not maintaining order book, counterfoils or duplicates of contract notes issued to the clients, and Margin Deposit Book, irregularities in maintenance of Clients’ database, not maintaining strict segregation between clients' funds and own funds, delay in payment to clients and executing negotiated deals with other members of the Exchange


M/s J. V. S. Securities Ltd., member of Calcutta Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from January 20, 2003 till July 19, 2003.