Associates in relation to a stock broker

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..... The Executive Directors / Managing Directors, All Stock Exchanges Dear Sir, Sub : Associates in relation to a stock broker SEBI vide its circular no. SMD/POLICY/CIR-24/97 dated September 26, 1997 had, inter alia, stated that if associates of defaulter-broker are holding membership in other stock exchanges, then action, if any, required to be taken against s .....

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..... partner of the stock broker, body corporate or the firm, as the case may be. The expression 'control' shall have the same meaning as defined under clause (c) of Regulation 2 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. Yours faithfully P K Bindlish General Manager Secondary Market Depository, .....

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