January 05, 2006
PR No. 08/2006

SEBI suspends certificate of registration of 

Shri Bhupendra Meghji Bheda

Securities and Exchange Board of India (SEBI) has passed an order against Shri Bhupendra Meghji Bheda (BMB), Member of The Stock Exchange, Mumbai under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 imposing a minor penalty of suspension of certificate of registration of BMB for a period of one month. 
 
The order has been passed by Shri Madhukar, Whole Time Member, SEBI on December 27, 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 BMB. Enquiry officer submitted his report and observed that BMB has violated Clause A(2) of the code of conduct as laid down under Schedule II read with regulation 7 of Broker Regulations and regulation 4(b) and (d) of SEBI (FUTP) Regulations. Consequently, SEBI passed the order after considering the submissions made by BMB.
 
The order will come into force after the expiry of three weeks from the date of the order. 
 
 
Mumbai
 
January 05, 2006