CRD/ CIR/ 2003/ 5
November 27, 2003

To,

The Company Secretary/ Compliance Officer
All Listed Companies

Dear Sir/Madam,

Sub: Disclosure regarding change in shareholding pattern, to the stock exchange(s).

The Exchange would like to drawn attention of the listed companies with respect to periodic disclosures to be made by the companies, inter alia, under the following provisions:

a) Clause 35 of the Listing Agreement with respect to Shareholding Pattern
b) Regulation 13 of SEBI (Prohibition of Insider Trading) Regulations, 1992 and
c) Reg. 7 of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997

It has been noticed that some of the companies are not submitting the details to the Exchange with respect to the above provisions. More specifically, the disclosures with respect to sale by concerned persons/ entities are not reported to the Exchange.

The Exchange has viewed the non-compliance with the above provisions seriously and proposes to take action against such erring companies.

Therefore, the companies are advised to take note of the above and comply with the above provisions, especially with respect to periodic disclosures to be made by the company to the Exchange.

Yours faithfully

Sanjay Golecha
General Manager
Dept. of Corporate Services