Suspension of broker

The Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of M/s Bhagirat Merchant Stock Broking Pvt. Ltd. , member of Bombay Stock Exchange (SEBI Reg. No. INB011036937) for a period of four months. The penalty is imposed for irregularities in maintenance of Clients’ database, irregularities in issuance of contract notes, not maintaining Margin Deposit Book, not maintaining strict segregation between clients' funds and own funds, not filing FIRs in respect of fake/forged shares, dealing with unregistered remisier and dealing with un-registered sub broker

M/s Bhagirat Merchant Stock Broking Pvt. Ltd., member of Bombay Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from March 03, 2003 till July 02, 2003. 


SMD