Establishment of Connectivity with both depositories NSDL and CDSL – Companies eligible for shifting from Trade for Trade Segment (TFTS) to Rolling Segment - SEBI - MRD/DoP/SE/Cir-02/08

Chief General Manager Market Regulation Department-Division of Policy E-mail: [email protected] MRD/DoP/SE/Cir-02/08 February 21, 2008 The Executive Directors/Managing Directors/ Administrators of all Stock Exchanges Dear Sir/Madam, Sub: Establishment of Connectivity with both depositories NSDL and CDSL Companies eligible for shifting from Trade for Trade Segment (TFTS) to Rolling Segment 1. It is observed from the information provided by the depositories that the companies listed in Annexure A have established connectivity with both the depositories during the month of November 2007. 2. The stock exchanges may consider shifting the trading in these securities to rolling settlement subject to the following: a) At least 50% of other than promoter holdings as per clause 35 of Listing Agreement are in dematerialized mode before shifting the trading in the securities of the company from TFTS to Rolling settlement. For this purpose, the listed companies shall obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the same to the stock exchange/s. However, if an issuer-company does not have a separate RTA, it may obtain a certificate in this regard from a practicing company Secretary/Chartered Accountant and submit the same to the stock exchange/s. b) There are no other grounds/reasons for continuation of the trading in TFTS. 3. The Stock Exchanges are advised to report to SEBI, the action taken in this regard in Section II, item no. 13 of the Monthly/Quarterly Development Report. Yours faithfully, S V MURALIDHAR RAO Encl: a/a Annexure A S. No. Name of the Company ISIN 1 Batkawa Tea Industries Limited INE794I01013 2 Ricon Commerce Limited INE016F01017 3 Sidh Enterprises Limited INE026F01016 4 Sharda Motor Industries Limited INE597I01010 5 Victoria Enterprises Limited* INE082E01012