Establishment of Connectivity with both depositories NSDL and CDSL –Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

Last updated: 08 January 2010

Notice Date : 06 January 2010

Establishment of Connectivity with both depositories NSDL and CDSL –Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

Deputy General Manager

Market Regulation Department-Division of Policy

E-mail: harinib@sebi.gov.in

SEBI/MRD/DoP/SE/Cir-2/2010

January 6, 2010

The Executive Directors/Managing Directors of all Stock Exchanges

Dear Sir/Madam,

Sub: Establishment of Connectivity with both depositories NSDL and CDSL –Companies eligible for shifting from Trade for Trade Settlement (TFTS) to normal Rolling Settlement

1. It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during the month of September 2009.

2. The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following:

a) At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange/s. However, if an issuer-company does not have a separate RTA, it may obtain a certificate in this regard from a practicing company Secretary/Chartered Accountant and submit the same to the stock exchange/s.

b) There are no other grounds/reasons for continuation of the trading in TFTS.

3. The Stock Exchanges are advised to report to SEBI, the action taken in this regard in the Monthly/Quarterly Development Report.

Yours faithfully,

HARINI BALAJI

Encl: a/a

Annexure A

Sr. No.	Name of the Company	ISIN No.
1	Sarla Gems Limited	INE465K01016
2	Topaz Commerce Limited	INE439K01011
3	Sea Lord Containers Limited	INE467K01012
4	Dewas Metal Sections Limited	INE887J01013
5	Sampada Chemicals Limited	INE040K01017
6	Responsive Industries Limited	INE688D01018