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Establishment of Connectivity with both depositories NSDL an


 Notice Date : 27 October 2009

Establishment of Connectivity with both depositories NSDL and CDSL –Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

 

Deputy General Manager

Market Regulation Department-Division of Policy

E-mail: harinib@sebi.gov.in

 

SEBI/MRD/DoP/SE/Cir-15/2009

October 27, 2009

 

The Executive Directors/Managing Directors of all Stock Exchanges

 

Dear Sir/Madam,

 

Sub: Establishment of Connectivity with both depositories NSDL and CDSL –Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

 

1. It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during the month of July 2009.

 

2. The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following:

 

a) At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange/s. However, if an issuer-company does not have a separate RTA, it may obtain a certificate in this regard from a practicing company Secretary/Chartered Accountant and submit the same to the stock exchange/s.

 

b) There are no other grounds/reasons for continuation of the trading in TFTS.

 

3. The Stock Exchanges are advised to report to SEBI, the action taken in this regard in the Monthly/Quarterly Development Report.

 

Yours faithfully,

HARINI BALAJI

 

Encl: a/a

 

Annexure A

 

Sr. No.

Name of the Company

ISIN No.

1

Gayatri Bioorganics Limited

INE052E01015

2

India Tourism Development Corporation Ltd

INE353K01014

3

Vinyoflex Limited

INE526H01011

4

Genesis Finance Company Limited

INE421K01019

5

Gagandeep Services Ltd

INE369K01010

 

 

jyoti
on 28 October 2009
Published in Shares & Stock
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