Deputy General Manager

Foreign Institutional Investors & Custodian Division

Investment Management Department

Cir No. IMD/FII&C/35/2008

November 6, 2008


All Foreign Institutional Investors, and Custodians of Securities

Dear Sirs,

Sub: Time period for utilization of the debt limits

1.  Please refer to paragraph 3 of circular no. IMD/FII&C/27/2008 dated January 31, 2008, wherein it has been stated that debt limit should be utilised within 15days from the date of the allocation.

2.  It has now been decided that the time period for utilization of the allocated debt limit shall be 11 working days from the date of the allocation. ‘Working days’ would mean working days of SEBI. The above mentioned circular stands amended to that extent.

The custodians are requested to bring the contents of this circular to the notice of their respective clients.

A copy of this circular is available at the web page “F.I.I.” on our website

Yours faithfully,

Jeevan Sonparote

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