Date:01/06/2006 URL: http://www.thehindubusinessline.com/2006/06/01/stories/2006060101821600.htm

Back Two CSE brokers suspended

Our Bureau

Kolkata , May 31

The Securities and Exchange Board of India (SEBI) has suspended Subhash Baheti & Co and Archana Khandelwal, both members of Calcutta Stock Exchange (CSE).

The regulator has, in exercise of its powers under Section 19 of SEBI Act, 1992 read with Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations 2002, has taken action against the two brokers.

Archana Khandelwal (Code No 625) has been suspended for three months, while Subhash Baheti & Co (809) has been suspended for 15 days. Both suspensions will be effective from June 1.

At another level, the CSE management has convened a meeting with members to discuss the implementation of the demutualisation scheme. The report of the committee to study the future of regional stock exchanges after their demutualisation will also discussed.

The latest proposal to discuss the demutualisation issue comes at a time when trading volumes on CSE are at a record low. On May 30, for instance, merely nine scrips were traded on Lyons Range, leading to a turnover of Rs 72 lakh.