Order against Sunil Kumar Kayan, member of Kolkata Stock Exchange

Jul 20, 2005
Press Releases

PRESS RELEASE


PR No.95/2005

Order against Sunil Kumar Kayan, member of Kolkata Stock Exchange

Securities and Exchange Board of India (SEBI) vide its order, dated   August 20, 2003 had restrained Sunil Kumar Kayan having SEBI Registration No. INB030668917 from accessing the securities market and prohibited him from buying, selling or dealing in securities, till further orders.  Subsequently, enquiry proceedings were initiated to look into the allegations.

Pursuant to completion of the enquiry proceedings, and keeping in view of the recommendation of enquiry officer and noting that ends of justice would be met by treating the period of restriction on the business activities of the broker since August 20, 2003 till date, being a period of almost two years, as sufficient penalty, SEBI has passed order dated July 12, 2005 directing that the restraint imposed on the broker against buying, selling and dealing in securities, in terms of SEBI orders dated August 20, 2003 and December 09, 2003, be revoked with immediate effect.

The full text of the order is available on the website: www.sebi.gov.in

 

 

Mumbai

July 20, 2005