Secondary Market Department

The Securities and Exchange Board of India (SEBI) has suspended Shri Nikhil Kumar Dhirajlal Shah, member of Ahmedabad Stock Exchange (SEBI Reg. No. INB 020627910) for a period of two months for failing to obtain prior permission from SEBI pertaining to change in the status and the constitution of the firm, irregularities in issuance of contract notes, dealing with un-registered sub-brokers, not maintaining proper segregation between clients funds and own funds and indulging in illegal carry forward transactions. 

Shri Nikhil Kumar Dhirajlal Shah, member of Ahmedabad Stock Exchange will not be entitled to carry on the business as a Stock Broker with effect from July 30, 2001 till September 29, 2001.