PRESS RELEASE - SEBI

September 24, 2004
PR No. 247/2004

Registration of two stock brokers, cancelled

The Securities and Exchange Board of India (SEBI) has passed two orders dated September 18, 2004 cancelling the certificate of registration of the following two stock brokers with immediate effect:
 

Sr. No.

Name of the broker

SEBI Regn. No.

Exchange

1

Amita Dua (Trade name: M/s. Naresh Dua & Co.)

INB120308213

LSE

2

M/s. Kuber Securities Ltd.

INB050942936

DSE


The aforesaid stock brokers were declared defaulters by Ludhiana Stock Exchange and Delhi Stock Exchange respectively and ceased to be members of the Exchanges, and thereby failed to fulfill the pre-requisite condition of registration as stock broker with SEBI. The registrations have 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.
 
 
Mumbai
 
September 24, 2004