Circular No: - NMCE/2011-12/0106 Date: - 06-Feb-2012
To,
The Members
In pursuance of the Order received from the Forward Markets Commission (FMC) vide its letter reference No.ENF-LAD/M&S-NCDEX/2011/DEC/SCN-HTPL/665 dated 1st February, 2012 and in terms of the Bye-Laws, Rules and Regulations of the Exchange, it is to bring to the notice of all the members of the Exchange that Trading cum Clearing Membership rights of M/s Hindustan Technosol Pvt. Ltd. (Member Code: CL0209) (FMC UMC: NMCE/TCM/CORP/0123), have been suspended with immediate effect for a period of six months from the date of the order by the Commission.
The operative part of the Order passed by the Forward Markets Commission (FMC) in the above matter reference No. ENF-LAD/M&S-NCDEX/2011/DEC/SCN-HTPL/665 dated 31st January, 2012 is reproduced here under:
a. M/s Hindustan Technosol Pvt. Ltd. a member of the Commodity Derivative Exchanges(s) Viz. NCDEX, MCX, NMCE and ACEL is hereby suspended from its membership of the above Commodity Derivatives Exchange(s) for a period of six months from the date of this Order.
b. The Directors of M/s Hindustan Technosol Pvt. Ltd. viz. Shree Shashikant Kanoongo (PAN:ACQPK2726F), Shree Ravi Kant Kanoongo(PAN:ACQPK2725G), Shree Tara Chand Kanoongo (PAN:AHCPK7192E) and Shree Ghanshyam Das Kanoongo (PAN:ABFPK9076J) are hereby prohibited from entering into any forward contract for sale or purchase in their own name or through another member of recognized association of any goods or class of goods for a period of six months from the date of this Order.
All the members and their clients are advised to take a note of the above order of the Forward Markets
Commission for strict compliance thereof.
For and on behalf of
National Multi-Commodity Exchange of India Limited
Dinesh Shukla
Vice President (Market Watch & Surveillance)
