According to senior officials of BoI Shareholding the dues were cleared on July 7 and part of it on Wednesday. These outstanding dues were pertaining to settlements ended on June 12 and 19.

However, in case of outstandings of Hongkong Bank and Stock Holding Corporation (SHCIL), the clearing house has decided to clear the backlog by July 11. In the case of SHCIL, the outstanding, according to senior BoI officials, stand at Rs 3.5 crore and Hongkong Bank it is less than Rs 50 lakh.

While market was agog with rumours that BSE has decided to commission subcontracts to IIT Corporate Services to handle the vyaj badla shares which comes to the clearing house, BSE top brass refuted any such attempts made by them terming it as a mere suggestion which needs to be carefully studied and debated upon. The debate becomes important since theexchange has already asked all the brokers to return the vyaj badla shares in the demat form to the clearing house after the book closure period ending July 15. The suggestion to appoint sub contractors, according to sources, came up at the close door meeting held by BSE with the top 30 brokers of the exchange. "We called upon the opinion leaders of the market and briefed them about the latest developments at the exchange, " explained RC Mathur, the executive director of BSE.

According to insiders, even if the clearing house and BSE decide to appoint sub-contractors, they would be required to seek the prior consent of the union of the BoI Shareholding staff.