Mode of payment and delivery

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..... s Dear Sir / Madam, Sub:- Mode of payment and delivery 1. Please refer to SEBI circular No.SMD/SED/CIR/93/23321 and letter No. SMD-1/23341 dated November 18, 1993 regarding regulation of transactions between clients and brokers. 2. It is reiterated that brokers and sub-brokers should not accept cash from the client whether against obligations or as margin .....

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..... om the beneficiary accounts of the clients except delivery of securities to a recognized entity under the approved scheme of the stock exchange and / or SEBI. 5. The undersigned has been authorized to direct the exchanges to 5.1. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately. 5.2. .....

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