MUMBAI, DEC 30: The Securities and Exchange Board of India (SEBI) has suspended four brokers, one each of Bombay and Jaipur stock exchanges and two of Madhya Pradesh Stock Exchange and cancelled the registration of the National Stock Exchange (NSE) member on the basis of various violations.Praveen Ramavat of the Jaipur Exchange has been suspended for six months with effect from tomorrow for not maintaining books of accounts, irregularities in issuance of contract notes, not maintaining strict line of segregation between clients account and own accounts, delay in delivery and payment to clients.The two members of the MP Exchange Rakesh Kumar Agarwal and Suresh Chandra Agarwal have also been suspended for six months with effect from January 7 or till such time the brokers come forward before the regulator for inspeection of books of accounts, whichever is later.The regulator has cancelled the registration of Gujarat Shares and Securities Limited, the NSE member, with immediate effect for notmaintaining a segregation between clients and own funds, delay in payment to clients and not reporting off the floor and spot transactions to the exchange. The broker has surrended its trading membership to the exchange.
