Reported by Leena Dagade, edited by Sandeep Deshmukh/NewsWire18

Securities and Exchange Board of India has decided to suspend the registration certificates of 227 defaulting stock brokers for six months or till the time they do not fully pay up their outstanding registration fees, whichever is later. The certificates of registration of these stock brokers as sub-brokers of subsidiaries of stock exchanges also shall remain suspended accordingly, the capital market regulator said in its order dated October 29, which would come into force within 21 days. The regulator had directed stock exchanges to take necessary action against the brokers. In August 2005, SEBI had initiated proceedings against brokers who had defaulted in registration fees payment. 

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