Deputy General Manager

Foreign Institutional Investors & Custodian Division

Investment Management Department

Cir No.IMD/FII & C/31/2008

           October 07, 2008




All Custodians of Securities


1.      Please refer to the SEBI press release dated October 06, 2008, on the decisions taken by the SEBI Board pertaining to removal of restrictions on PNs.


2.      In this respect it is informed that the decisions on  PNs (ODIs) are effective from close of market hours on October 07, 2008. 


3.      Amendments to the FII regulations are being effected.


4.      You are requested to bring the contents of this circular to the notice of your FII constituents.


5.      A copy of this circular is available on our website


Yours faithfully,


Jeevan Sonparote