Networth Exchange registration suspended

Sebi has suspended the certificate of registration of Networth Stock Broking Limited for a period of one month. The order will come into force on expiry of twenty one days from Tuesday. The order passed by whole-time member Prashant Saran relates to the matter of G G Automotive Gears, which saw its share price rise to Rs 115.30 from Rs 23 in less than three months between August and October 2002. “Considering the natures of the trade, I note that the noticee (Networth Stock Broker) indulged in the pattern of trades which were not genuine, but manipulative as discussed above while trading on behalf of its clients," says the Sebi order.