Establishment of Connectivity with both depositories NSDL and CDSL

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-7/2010

March 29, 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 during December 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 Boss Securities Limited INE681K01018

2 Bombay Cycle And Motor Agency Limited INE691K01017

3 Hindusthan Udyog Limited INE582K01018

4 Bokadia Films Limited INE644K01016

5 Duke Offshore Limited INE397G01019

6 Gayatri Tissue and Papers Limited INE661K01010

7 SNL Bearing Limited INE568F01017

8 Prabhav Industries Limited INE538J01012

9 VHCL Industries Limited INE218K01019

10 Hira Ferro Alloys Limited INE 573I01011