November 16, 1998
PR No. 305/1998

MEMBER, BANGALORE STOCK EXCHANGE
 
SECONDARY MARKET DEPT. 

TEXT

The Securities and Exchange Board of India (SEBI) has suspended Shri M. S. Chandrashekhar (Trade Name: M/s Shree Chamundi Stocks), member of Bangalore Stock Exchange (SEBI Reg. No. INB 080709719) for a period of three months. He has been suspended in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 for conducting business before obtaining certificate of registration from SEBI, irregularities in issuance of contract notes, non-maintenance of proper books of accounts, delay in effecting deliveries and payment to the clients and delay in rectification of bad deliveries. 
 
Shri M. S. Chandrashekhar, member of Bangalore Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from November 20, 1998 till February 19, 1999.