Bourses may consider shifting 9 scrips to normal trading: Sebi
The scrips which could now be shifted to rolling settlement include Lifeline Drugs & Pharma, Dera Paints & Chemicals, Ravindra Energy, Count N Denier (India) Ltd, Monotype India, Golechha Global Finance, Shree Manufacturing Company, Midwest Gold and Delta Leasing And Finance, Sebi said in a circular.
In 'trade-to-trade' segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.
In addition, Sebi also advised the stock exchanges to report to it about the action taken in this regard in the monthly/quarterly development report.
The Securities and Exchanges Board of India (Sebi) said the stock exchanges may consider to shift the scrips of these (nine) companies from the Trade for Trade Settlement (TFTS) to a normal Rolling Settlement as these firms have established connectivity with both depositories - NSDL and CDSL.
The shifting is subject to that 50 per cent of non-promoter holdings in these companies should be in demat or electronic form.
"The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following: at least 50 per cent of other than promoter holdings are in dematerialised mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement," Sebi said.
For this purpose, the listed companies require to obtain a certificate from its Registrar and Transfer Agent (RTA) and submit the
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