SECURITIES AND EXCHANGE BOARD OF INDIA SECONDARY MARKET DEPARTMENT Mittal Court, A Wing, Gr. Floor, 224, Nariman Point, Mumbai 400 021
SMDRP/POLICY/Cir-07/99 4 February, 2000
To
The Executive Directors/Managing Directors/ Presidents of all the exchanges
Dear Sir/Madam,
Sub: Margins to be collected from the clients Ref: earlier circular dated December 04, 1998 no 35/98
In partial amendment to the circular mentioned above it has been decided to increase the amount of the margin beyond which the member-brokers would have to mandatorily collect margins in respect of the client in a settlement, increased from Rs 50,0000/- to Rs.1,00,000/-. Thus in all cases where the margin in respect of a client in a settlement would work out to be more than Rs.1,00,000/-, the member brokers would have to mandatorily collect the margins from the client. The Stock Exchanges would monitor the collection of margins by members from clients.
All the other provisions of the circular remain the same.
Yours faithfully,
P. K. BINDLISH Division Chief Secondary Market, Depository, Research & Publications Department e-mail : pkb@sebi.gov.in