SECURITIES AND EXCHANGE BROAD OF INDIA
DEPUTY GENERAL MANAGER
DEPOSITORIES & CUSTODIAL DIVISION
D&CC/FITTC/CIR – 07/2002
April 08, 2002
To,
All Stock Exchanges and Depositories
Dear Sir,
DEPOSITORIES & CUSTODIAL DIVISION–CIRCULAR NO.7
In order to ensure smooth functioning of T+3 rolling settlement, it has been decided that the Depository Participants (DPs) shall execute Beneficiary Owner’s instructions received within 24 hours before pay-in time of the respective Stock Exchange. Any instructions received after such time may also be executed at the risk of Beneficiary Owner. The Depositories shall communicate the same to DPs and report compliance to SEBI.
The instructions will come into force with immediate effect.
Yours faithfully,
G.S. REDDY
