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Tuesday, Sep 21, 2004

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CSE identifies two members as defaulters

Our Bureau

Kolkata , Sept.20

THE Calcutta Stock Exchange has declared two members, Mr Premlal Roy and Mr Shiva Kumar Saraf, as defaulters.

The two members did not comply with the arbitration awards. Further, Mr Roy failed to settle a number of bad delivery cases.

The SEBI-appointed administrator of the exchange identified them as defaulters and suspended them from membership based on Byelaw 304 and Byelaw 305 respectively of the Byelaws and Regulations of the Calcutta Stock Exchange.

Mr Roy and Mr Saraf carry membership numbers 526 and 1,044 respectively, the exchange said in a notice issued here on Monday.

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