August 27, 2004
PR No. 198/2004

Registration of M/s. J.B. Shares & Stocks Ltd., suspended

The Certificate of Registration of M/s J.B. Shares & Stocks Ltd., sub broker to M/s. Indo Shares and Fintrade Ltd., Member, The Stock Exchange, Mumbai, has been suspended for a period of one year effective from three weeks from August 19, 2004. The order was passed under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and imposing penalty) Regulations, 2002 by Shri A.K. Batra, Whole Time Member, on August 19, 2004.
 
SEBI had conducted investigations into the alleged price manipulation in the scrip of M/s.Vakrangee Softwares Ltd. Pursuant to investigations, SEBI after considering the facts, found that M/s. J.B. Shares and Stocks Ltd. is guilty under Clause A(1) and A(2) of Code of Conduct specified in Schedule II, compliance of which is mandatory for sub-brokers in terms of Regulation 15(1) (b) of SEBI (Stock Brokers and Sub Brokers) Regulations, 1992. 
 
 
Mumbai
 
August 27, 2004