DBOD.No. FSC. BC. 39/24.76.002/98

May 6, 1998

Vaishakha 16, 1920 (Saka)

All Commercial Banks

Dear Sir,

Ready Forward Transactions

Please refer to our circular DBOD. No. FSC. BC. 80/24.76.002/96 dated June 22, 1996 on the above subject.

2. The Government of India, vide their notification No.S.O. 225(E) dated March 18, 1998 (copy enclosed) have notified the following institutions as eligible institutions in addition to the institutions indicated earlier to undertake ready forward transactions in Treasury Bills and in such dated securities of the Government of India as are approved by the RBI in consultation with the Government.

(i) DSP Merrill Lynch Ltd.

(ii) Ceat Financial Services Ltd.

(iii) Kotak Mahindra Capital Company (unlimited)

(iv) Birla Global Finance Company Ltd.

(v) Hoare Govett (India) Securities Ltd.

(vi) Dil Vikas Finance Ltd.

(vii) SREI International Securities Ltd.

(viii) Tower Capital and Securities Pvt. Ltd.

(ix) Tata Finance Securities Ltd.

It would, therefore, be in order for banks to enter into ready forward transactions in the specified securities with the above institutions.

Yours faithfully

(Smt. Chitra Chandramouliswaran)

General Manager

 

THE GAZETTE OF INDIA

PART II - Section 3 - Sub-section (ii)

Published by Authority

MINISTRY OF FINANCE

(Department of Economic Affairs)

(CM & ECB Division)

NOTIFICATION

New Delhi, the 18th March, 1998

S.O. 225 (E). _ In exercise of the powers conferred by sub-section (1) of section 16 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Government hereby further amends the notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number S.O. 2561, dated the 27th June, 1969, namely : _

In the said notification :_

(a) in the second proviso, after serial number (viii), the following serial numbers shall be inserted, namely : _

''(ix) DSP Merrill Lynch Ltd.;

(x) Ceat Financial Servies Ltd.;

(xi) Kotak Mahindra Capital Company (unlimited),

(xii) Birla Global Finance Company Ltd.;

(xiii) Hoare Govett (India) Securities Ltd.;

(xiv) Dil Vikas Finance Ltd.;

(xv) SREI International Securities Ltd.:

(xvi) Tower Capital and Securities Pvt. Ltd.;

(xvii) Tata Finance Securities Ltd."

(b) in the Explanation occurring below fourth proviso after serial number (xxvii), the following serial numbers shall be inserted, namely :_

"(xxvii a) DSP Merrill Lynch Ltd., means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at Tulsiani Chambers, West Wing, 11th Floor, 212, Backbay Reclamation, Mumbai - 400021;

(xxvii b) Ceat Financial Services Ltd., means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at 31, Netaji Subhas Road, Calcutta - 700001;

(xxvii c) Kotak Mahindra Capital Company (unlimited) means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at Bakhtawar, 2nd Floor, 229, Nariman Point, Mumbai - 400021:

(xxvii d) Birla Global Finance Company Ltd. means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at A-54, M.I.D.C., Marol Industrial Area, Andheri (East), Mumbai - 400093;

(xxvii e) Hoare Govett (India) Securities Ltd., means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at Fourth Floor, Mahindra Towers, Dr. G.M. Bhosale Marg, Worli, Mumbai - 400018;

(xxvii f) Dil Vikas Finance Ltd., means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at 317, Maker Chambers V, 221, Nariman Point, Mumbai - 400021;

(xxvii g) SREI International Securities Ltd., means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at Sree Ganesh Centre, 216, A.J.C. Bose Road, Calcutta - 700017;

(xxvii h) Tower Capital and Securities Pvt. Ltd., means a company incorporated under the Companies Act, 1956 (1 of 1956) and having its registered office at ABAN house, 25/31, Ropewalk Lane, Off Rampart Row, Fort, Mumabi - 400001;

(xxvii i) Tata Finance Securities Ltd., means a company incorporated under the Comapnies Act, 1956 (1 of 1956) and having its registered office at Jiji House, Damodardas Sukhadwala Marg, Mumbai - 400001."

[F. No. 1/32/SE/97]

DR. U.SARAT CHANDRAN, Jt. Secy.

Note : The Principal notification was issued under S.O. No. 2561 dated 27-6-1969 published in the Gazette of India Part II, Section 3, page 839 dated 27-6-1969 and subsequent notifications S.O. 425 (E), S.O. No. 750(E), S.O. 434 (E) and S.O. 764 (E) were published in the Gazette of India Part II, Section 3, Sub-section (ii) on 1-6-1994, 18-10-1994, 13-6-1996 and 6-11-1997 respectively.