DEPOSITORIES & CUSTODIAL DIVISION – CIRCULAR NO.7 - SEBI - D&CC/FITTC/CIR – 07/2002

Circulars DEPUTY GENERAL MANAGER DEPOSITORIES CUSTODIAL DIVISION D CC/FITTC/CIR 07/2002 April 08, 2002 To, All Stock Exchanges and Depositories Dear Sir, DEPOSITORIES CUSTODIAL DIVISION CIRCULAR NO.7 In order to ensure smooth functioning of T+3 rolling settlement, it has been decided that the Depository Participants (DPs) shall execute Beneficiary Owner s instructions received within 24 hours before pay-in time of the respective Stock Exchange. Any instructions received after such time may also be executed at the risk of Beneficiary Owner. The Depositories shall communicate the same to DPs and report compliance to SEBI. The instructions will come into force with immediate effect. Yours faithfully, G.S. REDDY