Securities & Exchange Board of India (Sebi), on Friday, said it has cancelled registration of 35 brokers for failing to pay their fees under Sebi Rules. 

Sebi wholetime member G Anantharaman in an order dated January 23, 2008, cancelled the certificate of registration of 35 stock brokers with immediate effect.  Out of 35 brokers, 7 were members of National Stock Exchange of India (NSE) and 28 of OTC Exchange of India (OTCEI). These are: Lunar Holdings, NCM Neha Securities, Swaraj Financial & Investment Pvt Ltd, Shri R.Kesawan, Ramakrishna Equity Fund, Pride Shares & Capitals (P) Ltd, Opart Securities and GFC Securities & Finance Ltd. 

The 28 OTCEI members are: Wisdom Portfolio Management Services (P) Ltd, Athreya Shares and Securities (P) Ltd, Mr Jitendra Kumar of Blue Chip Captial Markets, Deepak Portfolios Ltd, Classic Share Dealers Ltd, Jayadurga Investment (P) Ltd, Mr A N Prasad, Mr A S Kumar of Prema Swaroop Securities,   P A Financial Services, Mr Ramesh Kumar Virmani, Vinco Holdings & Financials, Ferromech (India), Vijayanand Investments, Unisys Securities & Finance, Mr Prem Parekh, Bayswater Investments & Trading,  Mr Atul Shah, Mr Deepak S.Oberoi, Mr A Venkat Reddy, Mr Manohar Raj Kankharia, ASP Investment Ltd, Mansukhlal Kothari Investment & Financial Consultant, Grorich Consultants, Halkara Finance, Headstart Securities, Ken Financial Services and Integrated Capital Services.

Sebi has also cancelled registration of broker Surender Reddy Talakanti, member of Hyderabad Stock Exchange for failing to resolve an investor’s complaint within a stipulated time frame, thus violating Sebi stock broker regulations.  This order was also issued by Mr  Anantharaman on January 23, 2008.