No.DCS/CIR/2004/6
3rd August, 2004

To,

The Company Secretary/Compliance Officer,
All listed Companies

Dear Sir/Madam,

Re: Payment of dividend, interest and other cash benefits to investors furnishing bank account with Global Trust Bank Ltd.

This is to inform you that the Securities and Exchange Board of India (SEBI) vide its letter No. DPS-II/GTB-ECS/16703/2004 dated 29th July, 2004 advised that in cases where investors have given the details of their bank account with Global Trust Bank Ltd. (GTB) for ECS facility, Registrars and share transfer agents and the issuer companies may make the payment of dividend, interest and other cash benefits through warrants (payment instruments) without printing thereon the name of the bank account details of GTB. In case, however, alternate bank account details have since been given by the investor, such account details shall be printed on the payment instruments.

Please note that this a temporary exemption from the applicability of SEBI Circulars Ref. Nos. DCC/FITTCir-3/2001 dated October 15, 2001 and D&CC/FITTC/Cir-04/2001 dated November 13, 2001, available only to those investors who have furnished details of bank accounts with GTB for ECS facility.

Companies are requested to take note of the same and comply accordingly.

Yours faithfully

Sydney Miranda
Asst. General Manager
Dept. of Corporate Services
BSE – The Stock Exchange, Mumbai