VVL Securities Pvt. Ltd., Corporate member, declared defaulter

The Exchange has declared VVL Securities Pvt.Ltd (Clg.No.708), a corporate member of the Exchange as a defaulter under the Rules, Bye-laws and Regulations of the Exchange for their failure to meet obligations towards their clients.

The membership right of VVL Securities Pvt. Ltd. was suspended by the Exchange w.e.f. 30th August, 2001

Those members/investors who have any outstanding claims against defaulter - VVL Securities Pvt. Ltd (Clg.No.708) are required to immediately file their claims in arbitration and obtain arbitration awards in their favour and then put up their claims supported by arbitration awards to the Defaulters' Committee for its consideration. If no such claims are put up within six months from the date of declaration of default, the Defaulters' Committee will not entertain the claims of such members/investors at a later date. These claims should be filed with Dy. General Manager, Investors Services Cell, 1st Floor, Rotunda Bldg., Dalal Street, Fort, Mumbai 400 001.

Those members/investors who have already obtained such arbitration awards in their favour, but have not put up their claims, are required to put up their claims supported by the arbitration awards before the Defaulters' Committee for its consideration immediately and in any case not later than 7th August, 2002.

In case of future objections arising against the above named defaulter, members/investors should obtain arbitration awards in their favour within six months from the date of objection memos of the company and file the awards with the Defaulters' Committee for its consideration. If no such claims are put up as stated in this para, the Defaulters' Committee will not consider the claims of such members/investors after the stipulated time.