For full copy of order against SHIVAM INVESTMENTS, click here.


January 05, 2006
PR No. 07/2006

SEBI suspends certificate of registration of 

M/s. Shivam Investments

Securities and Exchange Board of India (SEBI) has passed an order against M/s. Shivam Investments, sub broker of M/s. Joindre Capital Services Ltd., bearing SEBI Registration No. INS011430713/01-7667, under regulation 13(4) of SEBI (Procedure for Holding For Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, imposing a minor penalty of suspension of certificate of registration of M/s. Shivam Investment for a period of 2 (two) months. 
The order has been passed by Shri Madhukar, Whole Time Member, SEBI on December 30, 2005.
In the matter of M/s. Eonour Software Ltd., SEBI appointed an Enquiry Officer to enquire into the alleged violations of SEBI (FUTP) Regulations and SEBI (Stock Broker) Regulations by M/s. Shivam Investments. Enquiry officer submitted his report and observed that M/s. Shivam Investments violated Clause A(2) of the code of conduct as laid down under Schedule II read with regulation 15 of Broker Regulations and also violated Regulation 4(b) and (d) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995. Consequently, SEBI has passed the order after considering the submission made by M/s. Shivam Investments.
The order will come into force with effect after the expiry of three weeks from the date of the order.
January 05, 2006