PRESS RELEASE - SEBI

July 16, 2004
PR No. 157/2004

Certificate of registration of 15 stock brokers of

Mangalore Stock Exchange cancelled

The Securities and Exchange Board of India (SEBI) has passed orders canceling the certificate of registration of the following 15 Stock-Brokers with immediate effect:
 

Sr. No.

Name of the broker

SEBI Regn. No.

1

Anand M Fatehpuria

INB140614213

2

Suryakanth V Mandavia (M/s. Pragati Investments)

INB140389110

3

Ila Somasundaram(M/s. Akshaya & Co)

INB140384213

4

Ganapathi Shet

INB140387210

5

Naresh Pranlal Bhukanwala

INB140387318

6

Maya Kamath

INB140384810

7

Kirti J Shah

INB140385310

8

S Raman(M/s. Kalpaka Investments)

INB140390119

9

Sharada Krishnan(M/s. Sharada & Co)

INB140389619

10

Naresh Kumar Mangala(M/s. N.K.Mangla & Co)

INB140389511

11

I Krishna Bhat(M/s. Amrutha Consultants)

INB140386417

12

Alarkan Mappat(M/s. Mappat Securities)

INB140640716

13

M/s. Monica Financial Solutions Ltd.

INB140933839

14

M Raghavendra Pai

INB140384311

15

Anil K Seth

INB140383615


The aforesaid 15 Stock-Brokers were declared defaulter by the Stock Exchange and ceased to be members of the Exchange, thereby failed to fulfill the pre-requisite condition of registration as Stock-Broker with SEBI. The registration has been cancelled in terms of Sub-Regulation (5) of Regulation 16 of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002.