SECURITIES AND EXCHANGE BOARD OF INDIA
SECONDARY MARKET DEPARTMENT
Mittal Court, B Wing, First Floor,
224, Nariman Point, Mumbai 400 021
SMDRP/POLICY/CIR-42/2001
Dear Sir,
SUB : Amendments to the Uniform Norms for Good/Bad Deliveries
Please refer to the circulars no. SMD/RCG/2796/96 dated July 16, 1996, SMD/RCG/3811/96 dated August 19, 1996, SMD/POLICY/CIR/7-97 dated April 16, 1997 and SMD/POLICY/GBDN/CIR-25/97 dated October 9, 1997 on the Uniform Norms for Good/Bad Deliveries prescribed by SEBI and the subsequent amendments/additions made therein. It has come to the notice of SEBI that there is a conflicting interpretation of clause 97 and clause 100 of uniform norms for Good/Bad delivery with respect to validity period of company objection memos. Based on the various suggestions received and as discussed with representatives of the Stock Exchanges, it has been decided that in such cases the provisions of clause 97 will prevail.
You are requested to take note of it and inform the members of your exchange accordingly.
Yours faithfully,
S. V. MURALIDHAR RAO
DEPUTY GENERAL MANAGER
SECONDARY MARKET DEPARTMENT
e-mail: mdrao@sebi.gov.in
