Sebi has suspended the certificate of registration of Networth Stock Broking Limited for a period of one month. The order will come into force on expiry of twenty one days from Tuesday. The order passed by whole-time member Prashant Saran relates to the matter of G G Automotive Gears, which saw its share price rise to Rs 115.30 from Rs 23 in less than three months between August and October 2002. “Considering the natures of the trade, I note that the noticee (Networth Stock Broker) indulged in the pattern of trades which were not genuine, but manipulative as discussed above while trading on behalf of its clients," says the Sebi order.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app