GENERAL MANAGER

MARKET REGULATION DEPARTMENT

MRD/DoP/SE/Cir-12 /06

September 21, 2006

The Executive Directors/Managing Directors/

Administrators of all Stock Exchanges

Dear Sir/Madam,

 Sub: Establishment of connectivity with both NSDL and CDSL- Shifting from Trade for Trade Segment (TFTS) to Rolling Segment

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 on or before 31.07.2006.

2.The stock exchanges may consider shifting the trading in these securities to rolling settlement subject to the following :

3.a)At least 50% of non-promoter holdings as per clause 35 of Listing Agreement are in demat mode before shifting the trading in the securities of the company from TFTS to 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.

4.b)There are no other grounds/reasons for continuation of the trading in TFTS.

5.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,

V S SUNDARESAN

Encl: a/a

ANNEXURE A

S.NO NAME OF THE COMPANY ISIN
1. Ashim Investment Company Limited INE511H01013
2. Associated Alcohols & Breweries Limited INE073G01016
3. Kothari Safe Deposits Limited INE407H01014
4. Oswal Yarns Limited INE670H01017
5. Panyam Cements & Mineral Industries Limited INE167E01011
6. Purbanchal Prestressed Limited INE931E01010
7. Sangrahalaya Timber And Crafts Limited INE932E01018
8. Scana Color (India) Limited INE416F01019
9. Shibir India Limited INE199H01017
10. Subhash Yurim Textiles Limited INE206F01014
11. Tashi India Limited INE552H01017

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