REGD NO. D.L.-33004/99
The Gazette of India
EXTRAORDINARY
P A RT II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 903] NEW DELHI, FRIDAY, OCTOBER 18, 2002/ASVINA 26, 1924
2 THE GAZETTE OF INDIA EXTRAORDINARY |PART 11—SEC. 3(ii)]
OTC EXCHANGE OF INDIA
NOTIFICATION
Mumbai. the 29lh 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. 1077(E).—Amendments by incorporating new clauses 2.01 (c) after clause 2.01 (b) in Chapter 11 and 01 (d) and 02(a) after clauses 01(c)& 02 in Chapter XIII of the Bye-laws
Clause 2.01 (c) of Chapter II
Investors and Listed Companies
Clause 01(d) of Chapter XIII: Failure In a listed company to transfer shares within the stipulated period
Where a listed company fails to transfer the shares w ithin one month from the date of lodgement of transfer requestor where the company fails to communicate to the transferee any valid objection to the transfer within one month, the aggnc\ cd party may applv to the Arbitration Committee to inquire into and award compensation for the opportunity losses caused during the period of delay
Clause 02(a)of Chapter XIII: Amount of compensation for delay in transfer of securities
The decision of the Arbitration Committee will be final and binding on the parties concerned in respect of the amount of compensation awarded for delay in transfcrofsccuritics and delay in furnishing the objection memo within one month fr§ua tbfi d.ife of lodgement of transfer-request.
|No.2468/02/L&S/103J
For OTC Exchange oflndia
PR A VEEN MOHNOT. Managing Director and CEO