GENERAL MANAGER

Market Regulation Department

SEBI/MRD/SE/Cir- 23 /05

December 22, 2005

The Executive Directors / Managing Director/CEO

Administrators of All Stock Exchanges

Dear Sir / Madam,

Sub: Corrigendum to Circular No. SEBI/MRD/SE/Cir-15/2005 dated August 04, 2005

1. Please refer to our above said circular regarding maintenance of books of accounts and other documents by the stock exchanges and its members when enforcement agencies like CBI, Police, Crime Branch etc. collect the copies of the records/documents during the course of their investigation.

2.  In partial modification, the earlier point 3 which stated as :-

“In view of the above, not withstanding anything contained in SCRR, 1957 and the Stock Broker Regulations, you are advised to preserve the originals of the documents, both in electronic and physical form, copies of which have been taken by CBI, Police or any other enforcement agency during the course of any investigation till the trial is completed.”

may please be replaced by :-

“In view of the above, you are advised to preserve the originals of the documents, both in electronic and physical form, copies of which have been taken by CBI, Police or any other enforcement agency during the course of any investigation till the trial is completed.”

3.It may be noted that the other provisions of the said circular would remain unchanged.

4.  All the Stock Exchanges are advised to:-

a) implement the above with immediate effect by making necessary amendments to the bye-laws and Listing Agreement, as applicable ;

b) to bring the provisions of this circular to the notice of their members of the exchange and also to put up the same on the website; and

c) communicate to SEBI the status of the implementation of the provisions of this circular and the action taken in this regard in Section II, item no. 13 of the Monthly Development Report for the month of January 2006.

5. This circular is being issued in exercise of the powers conferred by Section 11(1) of Securities and Exchange Board of India Act, 1992 to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.

Yours faithfully,

V S SUNDARESAN

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