All Companies whose securities are listed on the Stock Exchange(s) are required to submit audit reports on a quarterly basis within 30 days from the end of each quarter, to the stock exchange(s), under the following provisions:

i)   Regulation 55A of SEBI (Depositories and Participants) Regulations, 1996.
ii)  SEBI Circular No. D&CC/FITTC/Cir-16/2002 dated 31.12.02.

The SEBI vide their circular No SEBI/MRD/Policy/CIR-13/2004 dated March 3, 2004 informed that it has been observed by SEBI that some of the companies are not submitting reports regularly to the stock exchange(s) as required under the above provisions. Companies are advised that failure to comply with the aforesaid provisions would be viewed seriously and penal actions including adjudication proceedings would be initiated by SEBI against such companies. Submission of the above audit report to the exchange is a continuous requirement.

For the information of companies, Regulation 55A of SEBI (Depositories and Participants) Regulations,1996 states:

• Every issuer shall submit audit report on a quarterly basis starting from September 30, 2003 to the concerned stock exchanges audited from a qualified chartered accountant or a practicing company secretary, for the purposes of reconciliation of the total issued capital, listed capital and capital held by depositories in dematerialized form , the details of changes in share capital during the quarter and the in-principle approval obtained by the issuer from all stock exchanges where it is listed in respect of such further issued capital.

• The audit report under sub-regulation (1) shall also give the updated status of the register of members of the issuer and confirm that security have been dematerialized as per requests within 21 days from the date of receipt of request from the issuer and where the dematerialization has not been effected within the said stipulated period, the report shall disclose the reasons for such delay.

• The issuer shall immediately bring to the notice of depositories and the stock exchanges, any difference observed in its issue, listed, and the capital held by depositories in dematerialized form.

Sydney Miranda		K. Gopalkrishnan
Asst. Gen. Manager		Asst. Gen. Manager
Dept of Corporate Services		Dept. of Corporate Services