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

SMDRP/POLICY/CIR- 04/01

January 22, 2001

To:

The President/Executive Director/Managing Director
Of all the Stock Exchanges, and
Managing Director of NSCCL

Dear Sir/Madam,

Disclosure of Stock Exchange Annual Accounts

With a view to enhance the transparency in the functioning of the institutions in the securities market, namely stock exchanges, clearing corporations and the subsidiaries of the stock exchanges which partake the character of public institutions, it has been decided that these institutions should disclose financial information pertaining to their operations to the public.

Accordingly, the stock exchanges, clearing corporations and subsidiaries of the stock exchanges shall post their annual accounts on their respective websites. In addition, these entities shall also make available a copy of their annual accounts to investors, intermediaries and general public at a reasonable cost.

Stock exchanges, clearing corporations and subsidiaries of the stock exchanges are advised to take immediate steps to comply with this directive.

Yours faithfully

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