Nirupama Patel of Madhya Pradesh Stock Exchange, Hitesh Kchotai of Saurashtra Kutch Stock Exchange and Sharad Kumar Jain of Jaipur Stock Exchange have been suspended for a period of three months, while the brokerage firm, Nikhil Securities Ltd, has been barred from trading for three months. The market regulator also warned member of Ahmedabad Stock Exchange, Kalyanbhai Mayabhai Stock Brokers (P) Ltd, for not charging minimum brokerage, non-reporting of off-the-floor transactions and not maintaining separate client's bank account. Patel has been suspended till July 6 for non-maintenance of books of accounts, non-payment of margin liability to the exchange and irregularities in issuance of contract notes among others.