SEBI had vide Circular no. D&CC/FITTC/CIR-15/2002 dated December 27, 2002 advised the listed companies to appoint a common agency for share registry work, both for Physical as well as Electronic.

The instructions of SEBI contained in the aforesaid circular were to be implemented as early as possible and in any case not later than February 1, 2003.

SEBI has since then received a large number of representations from Chambers of Commerce, professional bodies, issuer companies and other market participants requesting an extension of time to comply with the above requirement and also to complete the process of transfer of records. SEBI has considered these requests and has decided to extend the time upto March 31, 2003 for compliance with the circular No. D&CC/FITTC/CIR-15/2002 dated December 27, 2002.

The companies are advised to furnish a copy of compliance certificate latest by April 07, 2003 to the stock exchanges wherever their securities are listed as well as to the depositories wherever the securities have been admitted.

The issuer companies may please note that this extension of time is being granted as a one-time relief measure and any non-compliance of the circular would invite appropriate penal action under the provisions of the relevant Acts and Regulations.

February 18, 2003