Suspension Of Merchant Banking Registration

The SEBI has suspended the certificate of registration of below mentioned merchant bankers.
 

S.No	Name	Cat	Reason For Enquiry	Remark
1	Phoenix International Finance Ltd.	I	Default on devolvement of underwriting commitment in the issue of Kanan Steels Ltd .	Suspended till the remaning period of registration (that is July 31, 1999).
2	Rockland Leasing Ltd..	I	Default on devolvement of underwriting commitment in the issue of Pasupati Fabrics Ltd., Elque Polysters Ltd. and BSM knit Fab India Ltd.	Suspended till the remaning period of registration (that is till October 15, 1999).

Suspension of Shri Bharat Kumar, member of Uttar Pradesh Stock Exchange

Shri Bharat Kumar, member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB 100346816), has been suspended by the SEBI for a period of two months in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for indulging in carry-forward transactions. He will not be entitled to carry on the business as a Stock Broker with effect from April 27, 1999 till June 26, 1999.

Suspension of Shri Shailendra Kumar Tandon, member of Uttar Pradesh Stock Exchange

Shri Shailendra Kumar Tandon, member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB 100374417), has been suspended by the SEBI for a period of two months in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for indulging in carry-forward transactions. He will not be entitled to carry on the business as a Stock Broker with effect from April 27, 1999 till June 26, 1999.