December 22, 2005
PR No. 163/2005

Order against Novel Securities Ltd.

Novel Securities Ltd., Member, NSE (SEBI Registration No. INB 231097636) has been awarded a penalty of censure and advised to be more careful in future in its dealings in the securities market and diligently adhere to the provisions of the SEBI Act, 1992 and the regulations made there under. The broker has been found guilty of violation of code of conduct as specified in SEBI (Stock Brokers and Sub-broker) Regulations, 1992, while dealing in the shares of Sunearth Ceramics Ltd.

The order has been passed by Shri Madhukar, Whole Time Member, SEBI on December 16, 2005.

Mumbai

December 22, 2005