SEBI cautions K

Mumbai, July 7 (UNI) Securities and Exchange Board of India (SEBI) has passed an order against K&A Securities Pvt Ltd, member of the National Stock Exchange, in the matter of Morepen Laboratories Ltd.

K&A Securities was found guilty of violating the provisions of the Code of Conduct for stock brokers by failing to exercise due care and diligence in the conduct of its business while dealing on behalf of its client, a SEBI release here today said.

The stock broker has been directed to be careful in future and exercise due care and diligence in the conduct of its affairs as a capital market intermediary.

It has also been directed to note that any instances of violations or non-compliance of the SEBI Act, rules and regulations, in future, shall be dealt with stringently. The order has been passed by Dr T C Nair, wholetime member of SEBI.

UNI KKD MAZ AG2053