SECURITIES AND EXCHANGE BOARD OF INDIA SECONDARY MARKET DEPARTMENT Mittal Court, A Wing, Gr. Floor, 224, Nariman Point, Mumbai 400 021
To,
Presidents/Executive Directors/Managing Directors of All Stock Exchanges.
Dear Sir,
SUB:Statement from the brokers regarding forged/fake/stolen shares
It has been observed recently that cases of forged/fake/stolen shares which are introduced in the market are on the increase and most of them might have been introduced through the sub-brokers. You are therefore, advised, that while forwarding applications for registration of sub-brokers a statement from the recommending member broker should be furnished to the effect that the applicant sub-broker has not introduced any forged/fake/stolen shares in the market.
Henceforth, all the applications for sub-broker registrations should be sent along with the recommending member broker’s statement as mentioned above.
Thanking You,
Yours Faithfully,
M.D.PATEL EXECUTIVE DIRECTOR