Establishment of Connectivity with both depositories NSDL and CDSL


 Notice Date : 05 August 2010

 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/ 23 /2010

August 05, 2010

 

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 during the month of April 2010.

 

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

Deputy General Manager

022-26449372

email: harinib@sebi.gov.in

 

Annexure A

Sr. No.

Name of the Company

ISIN No.

1

Volant Textile Mills Limited

INE962D01017

2

Tilak Finance Limited

INE026L01014

3

GFL Financials (India) Limited

INE764K01012

4

Virdhi Commercial Company Limited

INE568E01010

5

Window Glass Limited

INE902K01018

6

Shri Mahasati Investments Limited

INE326H01016

7

Mudit Finlease

Limited INE220D01010

 

 

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on 06 August 2010
Published in Corporate Law
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