DEPUTY GENERAL MANAGER
DEPOSITORIES AND CUSTODIAN CELL
November 13, 2001
All Stock Exchanges/Depositories/Custodians and AMFI/RAIN
Please refer to our circular no. DCC/FITTC/CIR-3/2001 dated October 15, 2001.
It is further advised that at present only some of the companies print the bank account details of the investors on the warrants (payment instrument), for distribution of dividends and other cash benefits etc,. There are some companies, which are not printing the bank account details on the payment instruments. SEBI has also received complaints about fraudulent encashment of the dividend and other cash benefit instruments.
To avoid such situations the Companies are advised to mandatorily print the bank accounts details furnished by the Depositories, on the payment instruments. The Depositories and the Stock Exchanges are therefore advised to instruct the companies / issuers accordingly.
G S REDDY