GENERAL MANAGER

MARKET REGULATION DEPARTMENT

MRD/DoP/SE/Cir-16/06

October 13, 2006

The Executive Directors/Managing Directors/Administrators of all Stock Exchanges

Dear Sir/Madam,

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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 31.08.2006.

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

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.

b)  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,

 V S SUNDARESAN

Encl: a/a

ANNEXURE A

S.NO NAME OF THE COMPANY ISIN
1. Bajaj Global Limited INE553H01015
2. Indian Charge Chrome Limited INE801B01011
3. Khaitan Weaving Mills Limited INE409H01010
4. Mohindra Fasteners Limited INE705H01011
5. National General Industries Limited INE654H01011
6. Setco Automotive Limited INE878E01013
7. Sigachi Laboratories Limited INE368H01018
8. Simplex Trading And Agencies Limited INE518H01018
9. Tebma Shipyards LImited INE279H01017
10. Tycoon Trades And Investments Limited INE404F01015

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