EMAIL: pgupta@sebi.gov.in
FAX NO: 91 22 2845776

Circular No. FITTC/FII/03/2002
May 23, 2002

All Foreign Institutional Investors and Custodians of Securities

Dear Sir / Madam,

Sub: Payment of margin by FIIs on their sale position.

FIIs are required to pay margins on their sale position in terms of circular no. SMDRP/Policy/Cir-34/2001. This margin was imposed as a temporary measure and has since been withdrawn.

A copy of SEBI circular SMDRP/Policy/Cir-12/2002 dated May 17, 2002 in this regard is enclosed for your information. The custodians are requested to bring the contents of this circular to the notice of their FII clients.

This circular is also available at the web page ‘Foreign Institutional Investors’ on our web site www.sebi.gov.in.

Yours faithfully,
General Manager

Encl: Copy of the circular SMDRP/Policy/Cir-12/2002 dated May 17, 2002.

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