The Governing Board in its meeting held on 23rd August, 2002 has declared Poddar Stock Broking Pvt. Ltd. (member, Clg.no.309), as a defaulter w.e.f. 23rd August, 2002, for contravention of the Rules, Bye-laws and Regulations of the Exchange.

Those members/investors who have any outstanding claims against the defaulter - Poddar Stock Broking Pvt. Ltd (Clg.No.309) are required to immediately 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.

Those members/investors who have already obtained such arbitration awards in their favour, but have not been settled, 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 22nd February, 2003.

In case of future objections arising against the above named defaulter for the shares received by the members/investors under objection, 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 alongwith the original share certificates and transfer deeds 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.

August 26, 2002