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June 06, 2006
PR No.
155/2006
Registration of M/s. Esha Securities Ltd., Member of DSE, suspended Securities and Exchange Board of India (SEBI) has passed an order dated May 30, 2006 suspending the certificate of registration granted to M/s. Esha Securities Ltd., (SEBI Registration No. INB050719038), member of the Delhi Stock Exchange (DSE) for a period of 6 (six) months with effect from June 20, 2006.
The order has been passed by the Whole Time Member, SEBI against M/s. Esha Securities Ltd. for non-maintenance of client agreements and registration forms, allowing clients to trade without obtaining sufficient margins, delay in payment/ delivery of securities to clients, instances of dishonour of cheques, irregularities in issuance and maintenance of contract notes, indulging in large number of off market transactions, dealing with unregistered sub-brokers, acting as unregistered sub-broker, non-appointment of compliance officer, involved in fictitious transactions, non-obtention of prior approval in terms of Rule 4(c) for change in shareholding, non-segregation of clients funds and own funds, etc.
M/s. Esha Securities Ltd., member of the Delhi Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from June 20, 2006 till December 19, 2006.
Mumbai
June 06, 2006
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