SAT stays order against Reliance Shares and Stock Broking Private Ltd

Mr. T. C. Nair (Whole Time Member of SEBI), in exercise of the powers conferred under Section 19, of SEBI Act, 1992 read with Regulation 13 (4) of the said Regulations has vide his Order dated December 11, 2006, suspended the Certificate of Registration of Reliance Shares and Stock Broking Private Ltd., (Clg. No. 493 – SEBI Reg. No. INB010607538) for a period of Four Months. The aforesaid order shall come into force immediately after the expiry of 21 days from the date of the order i.e. effective from January 1, 2007.

But, the Securities Appellate Tribunal (SAT) vide its interim order (Appeal No. 151) dated 27th December, 2006 has stayed the aforesaid SEBI order, during the pendency of the appeal.

Source : Equity Bulls

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