Order in the Matter of Summary Proceedings against the Stock Brokers who defaulted in Payment of Registration Fees

1. Vide Order dated August 11, 2005 under Regulation 16(1) of the extant SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, SEBI had appointed officers to conduct summary proceedings, inter alia, against the following three stock brokers who had defaulted in the payment of registration fees: SL. NO. NAME OF STOCK BROKER REGN. NO. STOCK EXCHANGE 1 Thomas Oommen INB090689511 Cochin 2 Rajive Kumar Gupta INB050096219 Delhi 3 Preet Mohinder Singh INB120711915 Ludhiana

2. The Officers have submitted their reports recommending suspension of certificates of registration of the aforesaid three stock brokers.

3. I have considered the recommendations of the Officers. I however, note that the aforesaid three stock brokers have subsequently paid the outstanding fees as per Schedule III of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 and hence suspension is not warranted.

4. I note that the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 have since been repealed and replaced by the SEBI (Intermediaries) Regulations, 2008.

5. I, therefore, in exercise of the powers conferred upon me under Section 19 of the SEBI Act, 1992 read with Regulation 33B (5) and (6) of the SEBI (Intermediaries) Regulations, 2008, hereby dispose of the proceedings initiated vide Order dated August 11, 2005 against the said three stock brokers without any direction. I, however, advise these three stock brokers to pay the fees as per the Regulations in future. 6. A copy of this Order shall be served on the stock exchanges of which these three stock brokers are members.

7. This Order shall come into force with immediate effect.

DATE: July 15, 2010 M. S. SAHOO PLACE: MUMBAI WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA