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March 04, 2004
PR No. 47/2004
Suspension of certificate of registration.
The Securities and Exchange Board of India (SEBI) had passed two interim orders dated January 21, 2003 debarring M/s Sanjay Khemani and N. Khemani, CSE members from associating with securities market activities and dealing in securities market till the completion of investigation and enquiry.
On completion of the investigation and enquiry, SEBI has suspended the certificate of registration of
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M/s. Sanjay Khemani, SEBI Reg. No.INB030693921 member of CSE, for a period of two years and
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M/s. N Khemani, SEBI Reg. No.INB031085815 member of CSE, for a period of fourteen months.
Taking into account the period since the date of coming into effect of the interim order, Sanjay Khemani will not be entitled to carry on the business as a Stock Broker till January 20, 2005 and N. Khemani will not be entitled to carry on the business as a Stock Broker till March 20, 2004.
The penalty is imposed on Sanjay Khemani for their violation of SEBI Regulations and circulars on off-market transactions, segregation of client money, margin which are for protection of investors and also for maintaining safety and integrity of the market.
The penalty is imposed on N. Khemani for their indulgence in off-market transactions in violation SEBI Regulations and circulars which are for protection of investors and also for maintaining safety and integrity of the market.
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