Deputy General Manager
Secondary Market Depository,
Research & Publications Department
e-mail : pkb@sebi.gov.in
SMDRPD/Policy/Cir-35 /2001
June 25, 2001
The President/Executive Director/Managing Director
All the Stock Exchanges
Dear Sir,
Sub:- Withdrawal of restriction on short sales
Vide circular no. SMDRP/POLICY/CIR- 13/2001 dated March 7, 2001 it was advised that all sale transactions shall be backed by delivery, unless a sale transaction is preceded by a purchase position of at least an equivalent amount in the name of the same client in the same or any other exchange.
With the introduction of the rolling settlement in 414 scrips from July 02, 2001, and the fact that all deferral products such as the ALBM/BLESS/MCFS/CNS will no longer be available, it has been decided to withdraw the above referred restrictions on short sales with effect from July 02, 2001.
Yours faithfully,
P. K. Bindlish
