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
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,
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.