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Establishment of Connectivity with both depositories NSDL and CDSL


 Notice Date : 22 February 2010

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-6/2010

February 22, 2010

 

 

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 upto November 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

1

Shri Badrinarain Alloys and Steels Limited

INE579K01014

2

Shri Jagdamba Polymers Limited

INE564J01018

3

KLJ Resources Limited

INE176K01019

4

Blue Circle Services Limited

INE526K01015

5

Som Shiva (Impex) Limited

INE471K01014

6

Arihant Superstructures Limited

INE643K01018

7

P.M. Strips Limited

INE650K01013

8

Hada Textile Industries Limited

INE775F01018

 

 

Guest
on 22 February 2010
Published in Shares & Stock
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