SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021
SMD/Policy/CIR-15/97
July 01, 1997
To
President/Executive Director/Managing Director
All Stock Exchanges
Dear Sir,
We are informed that the Hon’ble High Court of Delhi has appointed an official liquidator and passed an order restraining CRB Capital Markets Limited, its directors, servants and others from disposing of, alienating and/or parting with possession of any of the assets of the Company. SEBI has also issued directions under section 11 B of the Securities and Exchange Board of India ACT, 1992, to the CRB Capital Markets Limited and other group companies, which are registered with SEBI as various intermediaries. Inter-alia as a result of these directions, they have been restrained from transacting in the securities markets in their respective capacities.
In this connection, you are advised to make a note and inform all concerned that the following category of members of your Exchange are also restrained from transacting in securities market and their security deposits and/or any other type of deposits/assets held with the Exchange should not be released and the membership card should not be transferred –
a) CRB Capital Markets and any of the CRB Group Companies if they are members of the Exchange.
b) Directors/ Employees of CRB Capital Markets or any of the CRB Group Companies if they are members of the Exchange.
c) All such broking firms of the Exchange where any of the Directors/ Employees of CRB Capital Markets or any of the CRB Group Companies is a director/ promoter/ shareholder or proprietor/partner.
After taking above mentioned measures, details of such members should also be communicated to SEBI on an URGENT basis. List of 75 group companies of CRB is enclosed.
Yours faithfully,
AFTAB ALAM
DIVISION CHIEF
Encl.: a/a
cc to
Chairman’s Secretariat.
All Executive Directors, Division Chiefs and Regional Managers of SEBI
All SEBI Nominee Directors on the Board of Exchanges.
All Division Chiefs requested to circulate to all their officers.
