Sebi suspends registration certificate of Knack Corporate

Market regulator Sebi has suspended the registration certificate of Knack Corporate Services Pvt Ltd for a period of three months for alleged lapses in its functioning as a Registrar to an Issue (RTI) and Share Transfer Agent (STA). In addition, Sebi alleged Knack Corporate Services of major non-compliances regarding the rights issue of Ram Kaashyap Investments Ltd. RTI/STA work as documentation and payment processing agencies.

In its order dated November 8, Sebi said that it is suspending the certificate of registration "granted to Knack Corporate Services Private Limited, as a registrar to an issue and share transfer agent, for a period of three months". Further Sebi directed Knack Corporate Services to write to all its clients to make alternate arrangements for their registry and share transfer work during the suspension period.

Moreover, the entity would have to hand over all thephysical and the demat records of shareholders of its clients along with the database, after certifying their correctness, to the RTI and STA arranged by respective clients, under intimation to Sebi. The entity has to notify the concerned depositories about the transfer of records, Sebi said.

Reference: http://www.moneycontrol.com/