SEBI : Trading and settlement of trades in dematerialised securities

SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, A Wing, Gr. Floor,
224, Nariman Point, Mumbai 400 021

SMDRP/POLICY/CIR-32/98
NOVEMBER 9, 1998

The President/Executive Director/
Managing Director of all the Stock Exchanges/
NSDL/All Custodians

Dear Sir,

Trading and settlement of trades in dematerialised securities

Please refer to our earlier circulars on the subject advising inter alia the list of scrips for compulsory settlement of trades in dematerialised form for the institutional investors viz., banks, mutual funds, domestic financial institutions, foreign institutional investors and OCB’s.

It has now been decided to add units of Master Gain, Master Plus, Master Share and Master Growth schemes of Unit Trust of India, for compulsory dematerialised trading by institutional investors and OCB’s from December 15, 1998 and 65 more scrips from February 15, 1999 taking the total of such scrips to 304. The list of scrips for compulsory dematerialised trading by institutional investors and OCB’s from February 15, 1999 is given as annexure ‘A’.

It has also been decided that delivery of shares in dematerialised form is compulsory by all investors in respect of 12 scrips (annexure ‘B’) with effect from January 4, 1999 and in respect of 19 scrips (annexure ‘C’) with effect from February 15, 1999. In these scrips, the concept of Market Lot is discontinued with effect from the respective dates as above on which it becomes mandatory for all investors to give delivery only in dematerialised form.

Further, effective from January 4, 1999, any investor who would have a net delivery obligation of 5000 shares or more in any of the 24 scrips as per Annexure ‘D’, could only do so in dematerialised form.

Yours faithfully,

P.K. KURIACHEN
DIVISION CHIEF
SECONDARY MARKET, DEPOSITORIES,
RESEARCH & PUBLICATIONS DEPARTMENT

Anagram Finance Limited	34. Rolta India Limited
Apcotex Lattices Limited	Tata Finance Limited
Apple Credit Corporation Limited	Alok Textiles
Arvind Polycot Limited	Century Extrusions
Ashok Leyland Finance Limited	Precot Mills
Birla Global Finance Limited	PSI Data Systems
George Williamson (Assam) Limited	CMC Limited
Hindustan Motors Limited	Pidilite Industries
Hoganas India Limited	Soundcraft
India Securities Limited	Sterling Tools
Indian Aluminium Company Limited	Grandmaster – UTI
lspat Alloys Limited	Cummins India Limited
Kirloskar Oil Engines Limited	Philips India Limited
Krishna Texport Industries Limited	Raymond Limited
Lloyds Finance Limited	Thomas Cook (India) Limited
Oswal Chemicals and Fertilizers Limited	Tata Vashisti Detergent Limited
Piramal Holdings Limited	Hindustan Powerplus
Raasi Cement Limited	Kirloskar Pneumatic
Sabero Organics Gujarat Limited	Ballarpur Industries Limited
Shree Krishna Petro Yams Limited	Exide Industries Limited
SPIC Electronic and System Limited	Essar Shipping Limited
Sterlite Industries (India) Ltd.	Lloyds Steel Industries Limited
The Bishnauth Tea Company Limited	Tourism Finance Corporation of India Ltd.
The Bombay Burmah Trading Corporation	Lupin Labs
The Indian Card Clothing Company Limited	Lupin Chemicals
The Jammu and Kashmir Bank Limited	Best & Crompton
Titanor Compo-nents Limited	Goodricke Group
Unit Trust of India – Unit’64 Scheme	Coats of India
Usha Beltron Limited	Tata Timken
Williamson Magor & Co. Limited	MICO
31.Bajaj Hindustan Limited	Industrial Oxygen
32. Mukand Limited	Madras Cements Ltd.
33. Rain Calcining Limited

1. SBI

2. ICICI

3. HDFC

4. L & T

5. BPCL

6. Infosys

7. IDBI

8. BSES

9. BOI

10. Inds Ind Bank

11. WIPRO

12. VSNL

1.. ACC

2. MAHINDRA & MAHINDRA

3. MADRAS REFINERIES

4. TATA TEA

5. ASIAN PAINTS

6. CASTROL INDIA LTD.

7. HPCL

8. COCHIN REFINERIES.

9. RANBAXY

10. ABB

11. GUJARAT AMBUJA CEMENT

12. HERO HONDA

13. DR. REDDY’S LAB.

14. BAJAJ AUTO

15. BIRLA GLOBAL FINANCE LTD.

16. TVS SUZUKI

17. THERMAX

18. NIIT

19. GAIL

1. BSES LTD

2. BAJAJ AUTO

3. COLGATE

4. GLAXO (I) LTD

5. GRASIM INDUSTRIES LTD

6. GUJARAT AMBUJA CEMENT

7. HINDUSTAN LEVER LTD (HLL)

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9. HINDALCO

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24. TATA POWER