PRESS RELEASE
Order under Regulation 13(4) of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 against M/s. Credit Suisse First Boston (India) Securities Pvt. Ltd., member BSE and NSE with respect to its dealings in the scrip of Ranbaxy Laboratories Ltd.
Shri A. K. Batra, Whole–time Member, Securities and Exchange Board of India (SEBI) has issued an order dated March 05, 2004 under Regulation 13(4) of the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 against M/s. Credit Suisse First Boston (India) Securities Pvt. Ltd., member BSE and NSE with respect to its dealings in the scrip of Ranbaxy Laboratories Ltd. In the said order, M/s. Credit Suisse First Boston (India) Securities Pvt. Ltd. has been found guilty of violating the provisions of SEBI Circular No. SMDRP/POLICY/CIR-32/99 dated September 14, 1999, Regulation 7 read with Section A (3) and (4) of Code of Conduct as specified in Schedule II of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, Regulation 4 (a) (b) (c) & (d) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 1995 read with Regulation 13(2) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 and Regulation 4.6.2 of NSE Capital Market Regulations. Vide the said order the certificate of registration of M/s. Credit Suisse First Boston (India) Securities Pvt. Ltd. has been suspended for a period of one month. The order shall come into force after 3 weeks from the date of the order.