October 12, 2004
PR No. 268/2004

Registration of M/s. Bipin R Vora, Member of BSE, suspended

Pursuant to investigations conducted in the matters of the dealing in the scrip of M/s. Sawaca Business Machines Ltd. (formerly known as Sawaca Finance Ltd.) an enquiry officer was appointed to look into the possible violations of law by M/s. Bipin R Vora, Member, The Stock Exchange, Mumbai (BSE), bearing registration number INB010004416.
 
Subsequently, it has been concluded that M/s. Bipin R Vora had allowed its sub- broker to deal with one of the entities responsible for the manipulation and thus violated the Code of Conduct as specified in Schedule II of Regulation 7 of SEBI (Stock Broker and Sub-Brokers) Regulation, 1992. Further that M/s. Bipin R Vora had facilitated, aided and abetted its ultimate client in price manipulation thereby violating the provisions of Regulation 4(b) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market), Regulations, 1995.
 
An order has been passed on October 06, 2004 under Regulation 13(4) of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, suspending the certificate of registration no. INB010004416 of the broker M/s. Bipin R Vora, Member, The Stock Exchange, Mumbai for a period of three months. The suspension of the certificate shall come into force on the expiry of three weeks from the date of the Order. 
 
 
Mumbai
 
October 12, 2004