ORDER PASSED BY SEBI AGAINST DRESDNER KLEINWORT BENSON SECURITIES (INDIA) LTD., MEMBER OF NSE AND BSE UNDER REGULATION 13(2) OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING PENALTY) REGULATIONS, 2002.

Pursuant to the findings of investigations conducted by SEBI in the wake of excessive volatility in the index movements of stock exchanges in India during mid February to mid March 2001, enquiry proceedings were initiated against Dresdner Kleinwort Benson Securities (India) Ltd. (DKB Securities) for conducting enquiry into their alleged violations of SEBI Act and the Regulations made there under.
 
SEBI, after considering the Enquiry Officer’s report, reply of said broker and after giving them an opportunity of hearing before Shri A.K. Batra, Whole-Time Member, SEBI, has vide order dated April 29, 2004 suspended the broking registration granted to DKB Securities for a period of eighteen months.