September 02, 2004
PR No. 206/2004

Registration of M/s. Securities Brokers of India Limited, suspended

The Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of M/s. Securities Brokers of India Ltd. (SBIL) [SEBI Registration No. INB 050626139] for a period of six months for its involvement in market manipulation in the scrip of M/s. Munga Holdings Ltd. The order has been passed by Shri A. K. Batra, Whole Time Member on August 31, 2004. This order shall come into effect on expiry of three weeks from the date of the order.
 
The penalty has been imposed as M/s. SBIL has committed violations and has not taken due care and diligence in observance and compliance of the statutory requirement in conduct of its business as a stock broker.
 
 
Mumbai,
 
September 2, 2004