Suspension of certificate of registration of M/s Sumedha Fiscal Services Ltd., member of NSE

The Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of M/s Sumedha Fiscal Services Ltd., member of National Stock Exchange (SEBI Reg. No. INB231075830) for a period of four months. The penalty is imposed for not maintaining Order book, Margin Deposit book and Document register, not issuing contract notes to two clients, irregularities in maintenance of client agreements, dealing with un-registered sub broker, non-segregation of client’s funds and own funds and non-collection of margins from the clients. 

M/s Sumedha Fiscal Services Ltd., member of National Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from June 09, 2003 till October 08, 2003.