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

SMD/POLICY/CIR- /97
November 11, 1997

To,

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Executive Directors/Managing Directors
of All Stock Exchanges

Dear Sir,

The members of the Stock Exchanges are depositing shares and securities with the Stock Exchange as a part of base minimum capital. The Stock Holding Corporation of India Limited(SHCIL) promoted by All India Financial Institutions is a registered custodian and provides custodial services to various financial institutions, mutual funds and other investors.

SHCIL has also offered custodial services to all Stock Exchanges for safe-keeping of the securities at a minimum cost. The Stock Exchanges desirous of taking services of SHCIL may have direct negotiations.

Yours faithfully,
O. P. GAHROTRA

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