CIRCULAR

Chief General Manager

Market Regulation Department-Division of Policy

E-mail: mdrao@sebi.gov.in

MRD/DoP/SE/Cir-33/2008

December 1, 2008

The Executive Directors/Managing Directors ck Exchanges

Dear Sir/Madam,

Sub: Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

 1.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 the month of September 2008.

2.The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following:

1.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.

2.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 Section II, item no. 13 of the Monthly/Quarterly Development Report.

Yours faithfully,

S V MURALIDHAR RAO

 Encl: a/a

Annexure A

Sr. No. Company Name ISIN
1. Vippy Industries Limited INE187E01027
2. Uniworth Securities Limited INE728J01019
3. Sheetal Diamonds Limited INE786J01017
4. Texplast Industries Limited INE544D01013
5. Bajrang Finance Limited INE507J01017
6. Suvijay Exports Limited INE765J01011
7. IshwarBhuvan Hotels Limited INE689J01013
8. Hind Commerce Limited INE691J01019
9. Gujarat Foils Limited INE587F01017
10. Integra Capital Management Limited INE366H01012
11. Gold Coin Health Foods Limited INE634J01019

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