Mumbai, May 29: Securities and Exchange Board of India (Sebi) has suspended the registration of two National Stock Exchange brokers--Sumedha Fiscal Services Ltd and Enrich Finance and Securities Ltd-- for four and six months respectively. Sumedha Fiscal Services would not be entitled to carry on the business as a stock broker from June 9, 2003 to October 8, 2003 as penalty for failure to maintain order book and not issuing contract notes to clients, Sebi said in a release here today.
Enrich Finance and Securities would not be entitled to carry on the business as a stock broker from June 9, 2003 to December 8, 2003 as a penalty for non-segregation of clients funds and own funds and non-payment of Sebi fees, it added. Bureau Report