July 20, 2004
PR No. 163/2004

Registration of Devki Finance and Trading Private Limited, suspended

The certificate of registration of M/s. Devki Finance and Trading Private Limited (sub broker of Panorama Shares & Stocks Limited), bearing SEBI Registration No. INS 010417330, has been suspended for a period of three months. The order was passed by Shri A K Batra, Whole Time Member (SEBI) on July 16, 2004. The order shall come into effect on the expiry of 21 days from the date of this order.
 
Devki Finance & Trading Private Limited allowed its client Mrs. Smita Kirti Shah, who alongwith other entities, participated in hammering down the price of the scrip, by indulging in non-genuine trade transactions, thereby creating a misleading appearance of trading in the scrip of M/s.Cellulose & Chemicals Private Limited.
 
 
Mumbai
 
July 20, 2004