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We are pleased to inform you that the Company has entered into an agreement with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL) to facilitate your holding and trading of the Company's equity shares in electronic form, in the Depository System.

In order to hold and trade your shares in the electronic form in the Depository System, you need to open an account with a Depository Participant (DP) (which is similar to opening a savings bank account) with any bank and dematerialise your shares. Dematerialisation is a process by which an investor's shareholding is converted into electronic form instead of holding them in physical share certificates.

In order to dematerialise your shares, you are required to submit a dematerialisation request along with the share certificates to a Depository Participant (DP) with whom you have opened an account, The DP in turn will send your share certificates to us for dematerialisation. Thereafter you will receive confirmation from the DP that the shares have been dematerialised and held in electronic form.

Once shares are dematerialised, the Depository System provides for trading in dematerialised shares i.e. an investor can purchase and sell dematerialised shares.

The Depository System also provides for rematerialisation of shares i.e. conversion of electronic holding of shares into physical form. To rematerialise your shares, you are required to submit a rematerialisation request to your DP who in turn will send your request to us. We will thereafter send you share certificate(s) in physical form.

The DP levies certain charges, for the services rendered to the investor such as transaction processing charges, custody charges, etc.

Some of the benefits to the investors from the Depository System are :-     


Immediate effect to trading in securities i.e. no waiting period for delivery.
No possibility of fake certificates or loss in transit of certificates.
No delay in transfer.
No stamp duty on securities sent for registration to companies.

Further we wish to inform you that based on the recommendation of the working groups constituted by SEBI, it has been decided to include the shares of your company for compulsory dematerialised trading for all investor, from 28th August 2000. From 28th August, 2000, delivery of shares of the company will be permitted only in dematerialised form and that the trading will be in dematerialised form, However, shareholders are free to hold the shares in physical form.


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