January 05, 2006
PR No. 10/2006

SEBI issues warning to M/s. Shilpa Stock Broker Pvt. Ltd.

Securities and Exchange Board of India (SEBI) has passed an order against M/s. Shilpa Stock Broker Pvt. Ltd., 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 warning and directed them to be more diligent in complying with the SEBI Act, Rules and Regulations framed there under. 
 
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 M/s. Shilpa Stock Broker. The Enquiry officer submitted his report and observed that M/s. Shilpa Stock Broker has violated Clause A(2) of the code of conduct as laid down under Schedule II read with regulation 7 of Broker Regulations. Consequently, SEBI has passed the order after considering the submissions made by M/s. Shilpa Stock Broker.
 
 
Mumbai
 
January 05, 2006