Securities and Exchange Board of India (Sebi) has today suspended two Calcutta Stock Exchange brokers on the charges of off-market trading, non-segregation of clients fund from own fund and fund-based activities.
The market regulator has barred K K Daga from the securities market for three months while the suspension on Vijay Patni would be for four months. The suspension for both the brokers would come into effect from September 2.
Last week, Sebi suspended another CSE brokers, Prakas Chandra Baid, on the same charges for four months.
Sebi has raided offices of three city-based brokers having membership with National Stock Exchange for their alleged involvement in dabba trading yesterday.
It was learnt that Sebi found indiscriminating documents from these offices which revealed that the brokers were engaged in dabba trading.
