Deputy General Manager Depositories and Custodian Cell DCC/FITTCIR-3//2001
To,
All Stock Exchanges / Depositories / Custodians and AMFI / RAIN
Dear Sir,
It has been brought to our notice that some of the companies are not utilizing the facility of ECS for distributing dividends, or other cash benefits etc., to the investors. It is advised that all the companies should mandatorily use ECS facility wherever available. In the absence of availability of ECS facility, the companies may use warrants for distributing the dividends.
The Depositories and Stock Exchanges are, therefore, advised to instruct the companies accordingly.
Yours faithfully,
G. S. Reddy