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

CIRCULAR

CIR/MRD/DP/ 27 /2014

September 18, 2014

To,
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.

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,
Maninder Cheema
Deputy General Manager
email: maninderc@sebi.gov.in

Annexure A

Sr. No.       Name of the Company                                          ISIN
1.               Salem Erode Investments Limited                         INE894E01028
2.               Tinnevelly Tuticorin Investments Limited               INE902E01029
3.               Dalmia Industrial Development Limited                 INE642P01019
4.               Positive Electronics Limited                                   INE813P01016
5.               Vegetable Products Limited                                   INE761D01013
6.               Denim Developers Limited #Formerly

                  Oriental Vinyls Ltd.                                                 INE956N01018
7.               Virat Leasing Limited                                             INE347L01014
8.               Kaushal Investments Limited                                 INE612E01016
9.               Crescent Leasing Limited                                      INE767G01013
10.             Fraser and Company Limited                                INE184Q01010
11.             Synergy Bizcon Limited                                         INE945O01019
12.             Durgesh Merchants Limited                                   INE616Q01011