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Securities and Exchange Board of India

MRD/DoP/SE/Dep/Cir-36/04

October 27, 2004

1.  The Executive Directors/Managing Directors/Administrators

Of All Stock Exchanges

2.  The Managing Director, NSDL

3.  The Executive Director, CDSL

4.  All Registered Custodians of Securities

Dear Sir / Madam,

Sub: Mandatory admission of debt instruments on both the Depositories

1. Please refer to SEBI circular No. D&CC/FITTC/CIR-13/2002 dated November 1, 2002 requiring, inter alia, that the issuer companies mandatorily admit their debt instruments on both the depositories.

2. It is observed that many issuers debt instruments have still not admitted their debt securities on both the depositories, as required in terms of the aforesaid circular.

3.The stock exchanges and the depositories are advised to inform the issuer companies to comply with the circular.

4. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Yours faithfully,

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