Registration of the Merchant Bankers given below have expired during the period 01/12/98 to 31/01/99. These Merchant bankers have also not filed application for renewal of registration. Accordingly these entities have been advised to cease their Merchant Banking activities from the date of expiry of their registration.

The SEBI suspended Shri Arun Goel, member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB100518716) for a period of three 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 and misuse of debit note facility. He will not be entitled to carry on the business as a Stock Broker with effect from February 09, 1999 till May 08, 1999.

The SEBI suspended Shri Ghanshyam Dwivedi, member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB100350518 for a period of three 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 February 09, 1999 till May 08, 1999.

The SEBI suspended Shri Sudhir Rathi, member of Pune Stock Exchange (SEBI Reg. No. INB110244512 for a period of six months in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for not reporting off-the-the floor transactions to the Exchange, non-maintaining clear segregation between client funds and own funds and carrying out off-the-the floor transactions during his period of suspension in the Stock Exchange. He will not be entitled to carry on the business as a Stock Broker with effect from February 12, 1999 till August 11, 1999.

M/s Shreyas Securities & Finance Ltd, member of Madhya Pradesh Stock Exchange (SEBI Reg. No. INB 070748534) was suspended by the SEBI for a period of six months in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for not co-operating with the SEBI Inspection Team. They will not be entitled to carry on the business as a Stock Broker with effect from February 11, 1999 till August 10, 1999.

Shri Kishor L. Kadvani, member of Saurashtra Kutch Stock Exchange, (SEBI Reg. No. INB 180530414) was suspended by the SEBI for a period of six months in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for not issuing contract notes, not maintaining Order Book and Documents Register, indulging in gala and financing transactions. He will not be entitled to carry on the business as a Stock Broker with effect from February 12, 1999 till August 11, 1999.

Shri Virendra Chandra Gupta (Trade name: M/s V. Vishnoi & Co.), member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB100382115) has been suspended by the SEBI for a period of three 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, not reporting off-the-floor transactions and not routing clients’ money through separate bank account. He Exchange will not be entitled to carry on the business as a Stock Broker with effect from February 23, 1999 till May 22, 1999.

Shri Pramod Kumar Kothari, member of Calcutta Stock Exchange (SEBI Reg. No. INB030059818) was suspended by the SEBI for a period of six 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, delay in payment to clients, non-segregation of clients’ fund and not reporting off the floor transactions. He will not be entitled to carry on the business as a Stock Broker with effect from February 26, 1999 till August 25, 1999.

Shri Shri Dwijendra Nath Hazarika, member of Gauhati Stock Exchange (SEBI Reg. No. INB130333314) was suspended by the SEBI for a period of six months in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for failure to produce books of accounts, other records and documents for inspection. He will not be entitled to carry on the business as a Stock Broker with effect from February 23, 1999 till August 22, 1999.

M/s Chucknoo & Co. (Shri Sudhir Agarwal, SEBI Reg. No. INB 100464621 & Shri Sanjeev Agarwal, SEBI Reg. No. INB 100464426, partners of the broking firm), members of Uttar Pradesh Stock Exchange was 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 March 09, 1999 till May 08, 1999.

Shri Krishan Mohan Shukla, member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB100356415) was 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 March 09, 1999 till May 08, 1999.

Shri Sarvan Kumar Agarwal, member of Uttar Pradesh Stock Exchange (SEBI Reg. No. INB100373418) was suspended by the SEBI for a period of three 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 and misuse of debit note facility. He will not be entitled to carry on the business as a Stock Broker with effect from March 02, 1999 till June 01, 1999.