Press Release
January 10, 2002Ref.No.PR 05/2002
Cancellation of Registration
The Securities and Exchange Board of India (SEBI) has cancelled the registration of M/s Marisa Financial Services Pvt. Ltd., member of Madhya Pradesh Stock Exchange with immediate effect. The registration has been cancelled in terms of Sub-Regulation (3) of Regulation 29 of SEBI (Stock Brokers and Sub-Brokers) Rules & Regulations, 1992.
The said broker belongs to M/s Hoffland Group of companies, which failed to repay the security deposits and that their financial position deteriorated to such an extent that their continuance in the securities market was not in the interest of the investors.
M/s Marisa Financial Services Pvt. Ltd., member of Madhya Pradesh Stock Exchange will not be entitled to carry on the business as a Stock Broker with immediate effect.