Regularisation period under the SEBI (Interest Liability Regularisation) Scheme 2004, extended till November 30, 2004
Securities and Exchange Board of India (SEBI) had notified the SEBI (Interest Liability Regularisation) Scheme on July 15, 2004. The scheme allowed the defaulting brokers to avail of the benefits of regularisation between October 15, 2004 and November 15, 2004.
In order to avoid inconvenience to brokers interested to avail of the benefit of regularization, the Fee Cell in SEBI was kept open on all days from November 13 to 15, 2004 even though these were holidays. However, some brokers could not avail of the benefit of regularisation as they could not obtain Banker’s Cheques / Demand Drafts because of bank holidays. The amount payable under the Scheme is required to be paid by way of a Banker’s Cheque or Demand Draft drawn in favour of “Securities and Exchange Board of India” payable at Mumbai.
In view of the above, it has now been decided to extend the regularisation period by 15 (fifteen) days. This means that the defaulting brokers can avail of the benefit of regularisation up to November 30, 2004. All other terms and conditions of the scheme remain unchanged. A notification S.O. No. 1273 (E) to this effect has also been issued today.
Mumbai
November 16, 2004