December 30, 2005
PR No. 175/2005

Orders against sub-brokers M/s. Maulik Investments and

M/s. N K Malpani

Two sub-brokers of BSE Ltd. M/s. N K Malpani (SEBI Registration No. INS 011734311) and M/s. Maulik Investments (SEBI Registration No. INS 010148513) have been warned to be careful in future in their dealings in the securities market and diligently adhere to the provisions of the SEBI Act, 1992 and the regulations made thereunder. The sub-brokers have been found guilty of violation of code of conduct as specified in SEBI (Stock Brokers and Sub-brokers) Regulations, 1992, while dealing in the shares of M/s. Rashel Agrotech Ltd.

These orders have been passed by Shri Madhukar, Whole Time Member, SEBI on December 27, 2005.

Mumbai

December 30, 2005