No.DCS/CIR/2004/4
20th May, 2004

To,

The Company Secretary/Compliance Officer,
All Listed Companies

Dear Sir/Madam,

Sub: Frequent change of names by listed companies.

As you may be aware, Clause 32 of the Listing Agreement, inter alia, provides that in case the company has changed its name suggesting any new line of business (including software business), after 1st January, 1998 or it changes the name hereafter, then the company will disclose the turnover and income, etc., from such new activities separately in the annual results for a period of 3 years from the date of change in the name of the company.

SEBI has now vide their circular No SEBI/MRD/Policy/AT/Cir-20/2004 dated April 30, 2004 decided that listed companies which decide to change their names will be required to comply with the following additional conditions:

1.	A time period of at least 1 year should have elapsed from the last name change.
2.	At least 50% of its total revenue in the preceding 1 year period should have been accounted for by the new activity suggested by the new name.

The new name along with the old name shall be disclosed through the web sites of the respective stock exchanges where the company is listed and also through the EDIFAR web site for a continuous period of one year, from the date of the last name change.

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

In case you require any further clarifications in the matter, please contact Mrs. Laxmi Kadam on 22721233/34, Extn. 8044.

Yours faithfully,
Sydney Miranda		Sanjay Golecha
Asst. Gen. Manager		Gen. Manager
Dept. of Corporate Services		Dept. of Corporate Services