On Friday, ET carried a report which said
The National Stock Exchange, India’s largest bourse, has withheld payout to Mumbaibased stockbroker Prime Securities. Three persons familiar with the development told ET that the exchange and the capital market regulator are investigating unusual trades handled by the broker in shares of Gitanjali Gems.
Prime Securities, headed by N Jayakumar, owes more than Rs 80-100 crore to NSE in the equity derivatives segment, said a Sebi source. The exchange is, in turn, holding back payout to Prime and a few other traders and members who are believed to have dealt with Prime. The exchange authorities and Sebi are probing whether Prime was linked to any price manipulation in the spot and derivatives markets.
“There is a fear that Prime may default on its payments, which is why NSE has been holding back on payments that are due to some of Prime’s clients,” said a person. The stockbroker has moved the Securities Appellate Tribunal against NSE.
At the risk of stating the obvious, this implies that securities held by Prime Securities/N Jayakumar will be under pressure.
The group portfolio of significant holdings as on March 31, 2013 is as follows:
| Comp Name | Entity | # of Shares | % |
| Aanjaneya Lifecare | Prime Broking Company (India) Ltd | 1125183 | 8.1 |
| EL Forge | N Jayakumar | 289435 | 1.42 |
| Gitanjali Gems | Prime Broking Company India Ltd | 1702269 | 1.85 |
| Greycells Education | Prime Broking Company (India) Ltd | 192101 | 3.2 |
| Greycells Education | Prime Securities Ltd | 79000 | 1.31 |
| Hind Tin Works | N Jayakumar | 237500 | 2.28 |
| Hitech Plast | Madhu Vadera Jayakumar | 250000 | 1.9 |
| Logix Microsystems | Prime Securities Ltd | 200696 | 1.66 |
| Logix Microsystems | N Jayakumar | 255000 | 2.11 |
| Prime Securities | Prime Broking Company India | 1038585 | 3.92 |
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