Sebi cancels registration of seven brokers

Capital market watchdog Sebi today cancelled the registration of seven brokers, some of which were expelled by the National Stock Exchange back in 2000.
The certificate of registration of Investment Point (India), Mascot Securities, Montage Securities, R C Garg & Sons Capital Services, Sushant Capital, Westfin Securities and Ken Financial Services have been cancelled.
Out of them, the National Stock Exchange had expelled Investment Point (India) and Sushant Capital in 2000, Mascot Securities in 1999, and Ken Financial Services in 2004.
The three others were declared as defaulters by the exchange way back in 1997.
These entities had violated broker regulations.

Among others, Sebi in its order said that R C Garg & Sons Capital Services was to pay dues worth Rs 16.80 lakh as towards registration fees as on March this year.