SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

Securities and Exchange Board of India (hereinafter referred to as “SEBI”) has vide Circular No. CIR/CFD/DIL/2/2013 dated January 3, 2013 has informed that certain listed companies have been giving monthly disclosure of their sales/turnover/production figures to their respective trade bodies/industry associations and the same is not disclosed to the stock exchanges. SEBI has therefore, reiterated that all the events or material information which will have a bearing on the performance / operations of the company as well as price sensitive information shall be first disseminated to the stock exchanges as required under Clause 36 of the Listing Agreement.

Securities and Exchange Board of India (hereinafter referred to as “SEBI”) has vide Circular No. CIR/MRD/DP/ 35 /2012 dated 17^th December, 2012 directed the Stock Exchanges in respect of Companies which are listed out in the Annexure A to the circular (which have established connectivity with both NSDL and CDSL) , to consider shifting the trading in securities from Trade for Trade Settlement to normal Rolling Settlement subject to satisfaction of the following:

1. at least 50% of the 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 Trade for Trade Settlement to normal Rolling Settlement and the Stock exchange has obtained a certificate in this regard issued by the Registrar and Transfer Agent. However, if the issuer-company does not have a separate Registrar and Transfer Agent, then such certificate needs to be issued by the Practicing Company Secretary/Chartered Accountant.

2. There are no other grounds/ reasons for continuation of trading in Trade for Trade Settlement.