THE GAZETTE OF INDIA EXTRAORDINARY

|PART

II—SEC. 3(ii)]

OTC EXCHANGE OF INDIA

NOTIFICATION

Mumbai, the 29th August. 2002

AMENDMENTS TO THE BYE-LAWS OF OTC EXCHANGE OF INDIA

(As approved by the Board of OTCEI at its meeting held on August 29. 2002 and by SEBI vide its circular letter

No SMD/Policy/Cir-10/2002 dated May 7, 2002)

S.O. 1 077( E).—Amendments by incorporating new clauses 2 01 (c) after clause 201 (b) in Chapter 11 and 01 (d) and

02(a) after clauses 01 (c) &. 02 in Chapter XIII or the Bye-laws

Clause 2.0l(c) of Chapter II

ln\ estors and Listed Companies

Clause 01 (il) of Chapter XIII: Failure!)} a listed company to transfer shares within the stipulated period

Where a listed company Tails to transfer Ihc shares within one month from the date of lodgement or transfer

request oi where the company fails to communicate to the transferee am xalid objection to the transfcrwithin one month,

the ngjjncv cd pan> max applv to the Arbitration Connnillcc to inquire into and award compensation for the opportunity

losses caused during the period of dcla>.

Clause 02(a) of Chapter XIII: Amount of compensation for dela> in transfer of securities

The decision of the Arbitration Committee will be final and binding on the parties concerned in respect of the

amount ofconipcnsiition awarded for dclav in transfer of securities and delay in furnishing the objection memo w ithiu onq.

nionth fr&»u,tlic diiic of lodccnienlof transfdrrcaucst

|No.246*'()2/L^S/l()3*

For^OTC Exchange of India

PRAVEEN MOHNOT. Managing Director and CEO

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