Securities And Exchange Board Of India
CIR/MRD/DP/18/2010
May 28, 2010
Sub: Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement
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 February and March 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
harinib@sebi.gov.in
Annexure A
| Sr. No. | Name of the Company | ISIN |
| 1 | New Markets Advisory Limited | INE800K01 014 |
| 2 | Global Securities Limited | INE742K01 018 |
| 3 | Ravinay Trading Company Limited | INE81 2K01 019 |
| 4 | KMC Speciality Hospitals (India) Limited | INE879K01 018 |
| 5 | Upasana Finance Limited | INE81 9K01 014 |
| 6 | Unitech International Limited | INE929K01 011 |
| 7 | VSF Projects Limited | INE923K01014 |
| 8 | Lalphul Investments Limited | INE948K01 011 |
| 9 | Oswal Overseas Limited | INE906K01019 |
| 10 | DJS Stock and Shares Limited | INE234E01019 |
| 11 | Vikalp Securities Limited | INE186E01011 |
| 12 | Tirupati Inks Limited | INE 493K01018 |
