SECURITIES AND EXCHANGE BOARD OF INDIA
Under Section 11B and 11(4)(b) of Securities and Exchange Board of India Act, 1992 against Shri Krishna Hullatti ( alias) Hullatti Krishna B (alias) krishnaraj, proprietor of M/s Matrix Web.
In the first place, the aforesaid activity of the individual is totally illegal as he is not registered with SEBI to carry on any activity either as a Portfolio Manager or as a Stock broker / sub broker or in any other capacity as a market intermediary. Secondly, no authentic and legally binding documents are issued to the clients indicating the Order No/ Trade No., Order quantity, rate of contract etc towards fulfillment of his obligations / enforcement of the rights of the clients on him. Further, as the said individual is not registered with SEBI to act in the Capital market on behalf of clients in any capacity, in the event of the individual failing to meet his obligations to the investors, the normal recourse available to the investors while trading with a registered intermediary may not be available in this case.
6. This order shall come into force with immediate effect.
G N BAJPAI
Date: 10 September. 2004