PRESS RELEASE - SEBI
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January 05, 2006
PR No.
06/2006
Warning / censure issued to sub-brokers
Securities and Exchange Board of India (SEBI) has passed seven orders dated December 30, 2005, against the following seven sub-brokers:
|
Sr.
No.
|
Name
of the broker
|
SEBI
Regn. No.
|
Exchange
|
Order
|
|
1
|
Shri
Mansukhlal Jagabhai
Tanti
|
INS010595614
|
BSE
|
Warning
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|
2
|
M/s.
I Trade Ltd.
|
INS010790132
|
BSE
|
Censure
|
|
3
|
M/s.
V & U Securities Pvt. Ltd.
|
INS010661812
|
BSE
|
Censure
|
|
4
|
Rajendra
R Mehta
|
INS010564719
|
BSE
|
Warning
|
|
5
|
M/s. Sona
M. Sheth
|
INS231154910
|
NSE
|
Warning
|
|
6
|
M/s.
Fortune Share Brokerage Pvt. Ltd.
|
INS230714037
|
NSE
|
Censure
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|
7
|
M/s.
Magma Securities Ltd.
|
INS231096731
|
NSE
|
Censure
|
The orders have been passed by Shri Madhukar, Whole Time Member, SEBI, against the above mentioned sub-brokers for non segregation of client funds from own funds, delay in payment of funds and delivery of securities, certain irregularities in the issuance of confirmation memos, some procedural deficiencies in client registration forms, not having written code of internal procedure for prevention of insider trading, acceptance of cash from clients etc.
Mumbai
January 05, 2006
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For full copy of order against FORTUNE SHARE BROKERAGE PVT.LTD., click here.
For full copy of order against I TRADE LTD., click here.
For full copy of order against MAGMA SECURITIES LTD., click here.
For full copy of order against MANSUKHLAL JAGABHAI TANTI, click here.
For full copy of order against MANSUKHLAL JAGABHAI TANTI,M/S, click here.
For full copy of order against RAJENDRA R.MEHTA, click here.
For full copy of order against RAJENDRA R.MEHTA,M/S, click here.
For full copy of order against SONA M.SHETH, click here.
For full copy of order against SONA M.SHETH,M/S, click here.
For full copy of order against V & U SECURITIES PVT.LTD., click here.
