Information from Depository Participants (DPs) regarding processing of applications for dematerialisation

Circulars

DEPUTY GENERAL MANAGER

Market Regulation Department

E-mail: sundaresanvs@sebi.gov.in

Tel : 2216 4465 Fax: 2216 4394

SEBI/MRD/DEP/Cir-44/2003

December 12, 2003

The Managing Director,

National Securities Depository Ltd.,

Trade World, 4^th Floor,

Kamala Mills Compound,

Senapati Bapat Marg, Lower Parel,

Mumbai – 400013

The Executive Director,

Central Depository Services(India) Ltd.,

Phiroze Jeejeebhoy Towers,

27-28^th Floor, Dalal Street,

Mumbai – 400 023

Dear Sir/s,

Sub: Information from Depository Participants (DPs) regarding processing of applications for dematerialisation

Please refer to SEBI Circular No.SMDRP/DRP/CIR-30/99 dated 25^th August, 1999 on the captioned subject. The said circular, inter-alia, mandated that the DPs would be required to furnish the information in the prescribed format regarding processing of applications for dematerialization on weekly basis.

In view of the fact that the required information is available with the Depositories, it has been decided that henceforth, the DPs need not furnish the said information to SEBI as prescribed in the aforesaid circular.

The depositories are accordingly advised to ;
1. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately, as may be necessary/applicable.
2. bring the provisions of this circular to the notice of the DPs of the Depository and also to disseminate the same on the website.
3. communicate to SEBI the status of the implementation.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Yours faithfully,

V S SUNDARESAN