The National Stock Exchange (NSE) has expelled two brokers, viz., Kolkata-based Destiny Securities Ltd, and Mumbai-based Star Share & Stock Brokers Ltd from its membership while declaring these brokers as defaulters.
In a statement, the Exchange says, "NSE has expelled the trading members from the membership of the Exchange under Rules 1 and 2 of Chapter IV of the NSEIL Rules and also declared it as a defaulter under provision 1 (a) of Chapter XII of Exchange Bye laws from 13 July 2021 before market hours."
Further, NSE says, as per the Exchange's records, the authorised persons affiliated with the aforesaid trading member, are henceforth, not authorised to deal in that capacity. This includes Anil Kumar Bajoria, Manoj Kumar Agrawal, Babita Agrawal and Pranay Agrawal from Destiny Securities.
From Star Share & Stock Brokers, NSE has debarred Rakesh Kumar, Manoj Kumar, Harleen Kaur Bindra and Vinod Kumar Garg from holding the office of as director or partner in a company or firm, if such persons had previously held the office of the directors or partners in any company/firm which had been a member of the Exchange and has been declared defaulter or expelled.