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July 07, 2006
PR No.
171/2006
Securities and Exchange Board of India (SEBI) has passed an order against M/s. K & A Securities Pvt. Ltd., Member of the National Stock Exchange, in the matter of M/s. Morepen Laboratories Ltd.
M/s. K & A Securities Pvt. Ltd. was found guilty of violating the provisions of the Code of Conduct for stock brokers by failing to exercise due care and diligence in the conduct of its business while dealing on behalf of its client. Therefore, the stock broker has been directed to be careful in future and exercise due care and diligence in the conduct of its affairs as a capital market intermediary. It has also been directed to note that any instances of violations or non-compliance of the SEBI Act, Rules and Regulations, in future, shall be dealt with stringently.
The order has been passed by Dr. T. C. Nair, Whole Time Member, SEBI, on June 29, 2006.
Mumbai
July 07, 2006
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