REGISTERED No. DL—33001/2001

The Gazette of India

PUBLISHED BY AUTHORlTY

No. 21]

NEW DELHI, SATURDAY , MAY 26, 2001 (JYAISTHA 5, 1923)

(Separate paging is given to this Part in order that it may be filed as a separate compilation)

[PART IV]

[Advertisements and Notices issued by Private Individuals and Private Bodies.)

NOTICE

NO LEGAL RESPONSIBILITY

IS ACCEPTED FOR

THE

PUBLICATION OF ADVERTISEMENTS / PUBLIC

NOTICES IN THIS PART OF THE GAZETTE. OF INDIA.

PERSONS

NOTIFYING

THE

ADVERTISEMENTS/

PUBLIC NOTICE'S WILL. REMAIN SOLELY, RESPONSI-

BLE FUR THE LEGAL CONSEQUENCIES AND ALSO

FOR ANY OTHER MISREPRESENTATION ETC.

BY ORDER

Controller of Publication

CHANGE OF NAMES

I, hitherto Known as RABINDRA TARlNl son

of LT. TARlNI employed as Male Safaiwala in the

Chief Health Inspector (NTS) S. E Rly., Kharagpnr

residing at the 657/B, out house, 6th Avenue P. O.

Kharagpur have changed my name and shall here-

after be k'nown as RABINDRA MADHAT

It is certified that I have complied with other

legal requirements in this connection.

RABlNDRA TARINI

[Signature (in existing old name)]

I hitherto known as SRI BIDESHI MAGUNI

son of LT. MAGUNI employed as Medical Safai-

wala in the Chief Health Inspector /NTS S. E, Rly.

Kharagpur residing at Traffic Harijan Colony. P. O.

Kharagpur, Dt. Midnapui have changed my name

and shall hereafter be known as SRI BIDESHI

SATHU.

It is certified that I have complied, with other

legal requirements in this connection.

SRI BIDESHI MAGUNI

[Signature (in existing old name)]

I, hitherto known as RAJESH MADHUKAR

MORE son of MADHUKAR

MANOALRAM

MORE employed as Labour SS in Ammunition

Factory, Khadki Pune-4ll 003 residing at the Babr -

rao Landgo Chawl behind Sambhaji Co-op. Bank

Kasarwdi, Pune-4l1034 have changed my name and

shall hereafter be known as RAJESH MADHUKAR

MORWAL.

1 —80G1/2001

(107)

108

THE UAZETIE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART-IV

It is certified that I have complied with other

legal requirements in this connection.

RAJESH MADHUKAR MORE

[Signature (in existing old name)

1, hither to known as MISS L E E N A SARANG

daughter oi" BABURAQ employed as private Medi-

cal Practitionei (Individual) residing at the AT PO:

Kadoli. Tal- & Dt. :Belgaum have cahnged my name

and shall hereafter be known

MRS. SAl

SHIVAJI ANGOLKAR,

It is certified that I have complied with other

legal requirements in this connection.

MTSS. LEEMA SARANG

[Signature (in existing old name)]

I, hither to known as SNEH daugher of Shri

RAJKUMAR residing at B-1006 Shastri Nagar,

Delhi-i 10052 have changed my name and shall here-

after be khown as LAXMI SINGH.

It is certified that I have complied with other

legal requirements in this connection.

SNEH

[Signature (in existing old name)]

1, hitherto known as SMT, NEERA Wife of Shri

RAKESH CHAND DHlMAN employed as Sr-

TOA(G)-1I in the O/o C.G.M.T., B.S.N-L.H.P.

Circle, Kasumpti, Shimla-171009

residing at the

Flat No. 9, Block No. C-17 SDA Colony yikas

Nagar Shimla-171009, have changed my name and

shall hereafter

be known

as SMT.

NEERA

DHlMAN

It is certified that I have complied with other

legal requirements in this connection.

SMT. NEERA

[Signature (in existing old name)|

I, hitherto known a$ RAKESH CHAND S/o o

Late Sh. DHANI RAM employed us TOA. (G)-1I

in the O/o Executivo Engineer (C) BSNL Telecom

civil division Khalini Shimla-171002 residing

Flat No. 9, Block No C-j7 SDA Colony, Vikas

Nagar, Shimia-l71009 have changed my name and

shall hereafter be known as RAKESH CHAND

DHlMAN.

It is certified that I have complied with other

legal requirements in this connection.

RAKESH CHAND

[Signature (in existing old name)]

t hitherto known as SADISH NAJK. son ot Stm

K. P- GOPALAN NAIR ennloyed as Trademan (P)

in tho Bhabha Atomic Research Centre, Trombay,

Mumbai 400085

residing

;>t

Meerabai

D-7,

Anushakti Nagar, Mumbai have changed my name

and

shall

hereafter

be known has SATISH

GOPALAN NAlR.

Tt is certified that I have complied with other

legal requirements in thin connection.

SADISH NAIR

[Signature (in existing old name)]

I hither to known as SAKTI s/o Late PRAN

KRISHNA employed as R plater Gr.-I holding

T/No. 39102 (Shop No. 39) S. E. Railway

Workshop

KGP residing at Village

Kismat,

Madnura, P

O. Samrairui", P. S. Khaiagrui

(Lccal), District Midnapcre (West gen gal) luue

changtd my name and shall heieafier be kntwn is

SAKTl

PADA

C H A K R A B O R T Y ,

S/O

L'MC

PRAN KRISHNA.

It js certified that I have complied with other

legal requirements in this connection.

SAKTl

[Signature (in existing old name)]

I hitherto known is LMA CHAND UAS son

of Shri LAGAN CHAND DAS an employee of

No 1 Advance Base Stationery Dcpct, C/c &9 AFO

a resident of Oil India Gate Narangi have changed

rny name and shall hereafter be known as UMA

NATH RA1.

It is certified that r have complied with other

legal requiiements in this connection.

UMA CHAND DAS

[Signature (in existing old name)]

I hitherto known as GANGA DUTT son of Sh.

GOVERDHAN employed as U-D.C. in the Ministiy

of SSI & ARl. DC(SSI), Nirman Bhavan, New Delhi

residing at 162/12, R.K. Puiam, New Delhi-110022

have changed my name and shall hereaftei be

known as GANGA DUTT PANDEY.

It is certified that I have complied with other leg^l

requirements in this connection.

GANGA DUTT

[Signature (in existing old name)]

hitherto

known as M'AJ (Mrs) DJPALI.

KARMAKAR Daughter of DWJ.JENDKAMOHAN

K A R M A K A R employed as Nursing Officer la i\v-'

Military Nursing Service (B^ise llos/.ul Burnck-

pore) residing at 43/2, Middle Road, B&irackpore,

24-Pgs. (N) have changed my name and

shall

hereafter

known

M'AJ(Mrs) DlPALl

CHATTERJEE.

It is certified that I have complied with other

legal requirements in this connection.

MAJ (Mrs) DIPAH KARMAKAR

[Signature (in existing old nemej]

Ihitherto known as PRfYATMA

K U M A R I

daughter of Late Shri B H A H A T SF.NGH residing ;>t

C-3/36, Keshav Puram, L'-iwrancc

Rord,

Delhi-

110035 have changed my name and shall iiceal'ter

be known as PRTYA.

It is certified that T have complied with other

legal requirements in this connection.

PRIYA1MA KUMAR|

[Signature (in existing old name)]

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

The provisions contained in NSE (Futures & Options) Trading Regulations are amended

to the extent given hereunder-

1. The definitions of the following terms are incorporated in the definitions Chapter at

appropriate places :

American Style option contract

American Style option contract means an option contract which may be exercised on

any day on or before the expiration day.

At the money or Near the money strike price

At the money or Near the money' strike price is the strike price of the option contract

at or within such range of the underlying as may be specified by the Relevant

Authority from time to time

Capped Style option contract

Capped Style option contract means an option contract which shall be exercised ipso

facto on or before expiration time upon the value of the underlying reaching the cap

price for the option at any time as the Relevant Authority may specify from time to

time for various option contracts.

Contract Value

Contract Value is the value arrived at by multiplying the strike price of the options

contract with the regular/market lot size.

Exercise

Exercise means the invocation of right, in accordance with and subject to Rules,

Byelaws and Regulations of the Exchange, by the holder of the option.

Exercise Price

The Exercise Price or strike price is the price per unit of trading at which the option

holder has the right either to buy or sell the underlying upon exercise of the option.

PART—IV|

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

Ih3

(

;

(

•

Exercise Style

Exercise Style of an option refers to the price at which and/or time as to when the

option is exercisable by the holder. It may either be an American style option or an

luiopean style option or capped style option or such other exercise style of option as

fhe Relevant Authority may prescribe from time to time.

t".".Aj»;ir;iPJ«ji! tfciu*

Fxpinuion fime is the close of business hours on the expiration day of the option

'•"nf.wa or «.-,u-:b frth'-<: tiuic ,;- <uay be specified by t>> '•*;•!•.•'• ..ui \nthority from timir

to time.

Kuii'opean Style option contract

European Style option contract means an option contract, which may be exercised

jiily on the expiration day, on or before the expiration time, or such other day and/ or

time as may be specified by the Relevant Authority from time to time.

In the money strike price

In the money strike price, in case of Put Option, is the strike price of the option

contract which is above At the money or Near the money¹ strike price.

In the money strike price, in case of Call Option, is the strike price of the option

contract which is below At the money or Near the money' strike price.

Option Class

Option contracts of the same type and style that cover the same underlying constitute an

upiiCM i*ilSS.

Option Holder

Option holder is a person who has bought an option contract

Option Seller

Option scllc¹ is a person who has sold an option contract.

Out of flic money strike price

Out of the money strike price, in case of Put Option, is the strike price of the option

contract which is below 'At the money or Near the money' strike price.

PART—IV]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

Out of the money strike price, in case of Call Option, is the strike price of the option

. contract which is above ' At the money or Near the money' strike price

Premium

Premium is the price which the buyer of the option pays to the seller of the option for the

rights conveyed by the option contract.

Settlement price

Settlement price, in respect of Exercise settlement, is tne closing price ot tne

underlying on the day of exercise or such other price as may be decided by the

relevant authority, from time to time.

Strike Price Interval

Strike price interval is the gap between any two successive strike prices which the

Relevant Authority may prescribe from time to time.

Series of Options

Series of Options medns all options of the same class having the same exercise price and

expiration day.

^ype of option

Type of option means the classification of an option as either a put or a call.

Underlying

Underlying is one with reference to which derivative contracts are permitted to be

traded by the Exchange from time to time.

2. The following definition has been amended :

Regular-Lot/Market Lot Size

Regular Lot/Market Lot Size means the number of units that can be bought or sold in

a specified derivatives contract as may be specified by the Relevant Authority of

F&O Segment of the Exchange from time to time.

9—8()GI/2(X)1

J66

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5. 1^2.1)

[PAKI — IV

3. The following regulations are inserted after the existing regulation 3.1.1 of Chapter

III of the Regulations :

QUOTE

3.1.2

The Relevant Authority may from time to time introduce new contracts at

such strike prices (in the money¹, at the money or near the money' and 'out

of the money') for put /call options respectively for every month after the

expiry of the previous month contracts

3.1.3

The Relevant Authority may from time to time introduce one or more new

contract(s) at new strike prices for both call and put options respectively as

and when the prices of the underlying changes beyond pre-defined

parameters prescribed by it.

3.1.4

The Relevant Authority may from time to time prescribe the criteria for

underlying with reference to which the option contracts shall be permitted to

be traded on the F&O Segment of the Exchange.

UNQUOTE

The existing regulation 3.1.2 is re-numbered as 3.1.5.

The following regulations are inserted after the re-numbered regulation 3.1.5 of

Chapter HI of the Regulations :

QUOTE

3.1.6 The Relevant Authority may from time to time prescribe the exercise style of

an option.

3.1.7 The Relevant Authority may at any time introduce additional series of option

contracts with different exercise prices based on changes in the value of the

underlying or such other factors and circumstances including investor

interest, market conditions, etc. as may be decided from time to time,

UNQUOTE

6. The existing regulation 3.1.3 is re-numbered as 3.1.8.

7. The following regulations are inserted after the re-numbered regulation 3.1.8 of

Chapter HI of the Regulations

QUOTE

p A R T_IV]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

167

3.1.9

If the Relevant Authority is of the opinion that a particular underlying no

longer meets its requirements for options trading or is not eligible for trading

or if the Relevant Authority decides to discontinue trading in a particular

options series for such reason(s) as it may deem fit, it may stop introducing

new options on that underlying and may in such circumstances impose

restrictions on transactions that open new positions in options series that

have been previously introduced.

3.1.10 The Relevant Authority may discontinue trading in a particular option

contract if there are no open positions in such a contract.

3.1.11 The Relevant Authority may limit the total number of puts or calls on the

same underlying that a single investor or group of investors acting in concert

may exercise during such time period as may be prescribed by the Relevant

Authority from time to time. The Relevant Authority may also limit the

maximum number of options on the same side of the market (i.e., calls held

plus puts written or puts held plus calls written) with respect to a single

underlying that may be carried in the accounts of a single investor or group

of investors acting in concert.

UNQUOTE

8. The existing regulation 3.7.3 is amended in the following manner :

QUOTE

The F&O Segment of the Exchange/Clearing Corporation/Clearing Member shall

levy initial margin and such other margins on derivatives contract of such amounts

and in such manner as may be specified from time to time by the Relevant Authority.

UNQUOTE

The following regulations are inserted after the existing regulation 3.8 of Chapter III

of the Regulations :

QUOTE

3.9

The Relevant Authority may from time to time prescribe

(a) the mode, method or manner in which of the premium shall be collected

by the trading member from the constituent;

(b) the mode, method or manner in which the margins shall be collected by

the trading member from the constituent,

give exercise notice to the trading member;

PART—IV]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

169

CONTRACT NOTE

Subject to exclusive jurisdiction of the courts in MUMBAI only

CONTRACT NOTE ISSUED BY MEMBERS ACTING FOR CONSTITUENTS

AS BROKERS AND AGENTS

Name of the Member

Address of the Member

SEBJ Regn.No. of the Member

Name of Partner/

lYoprietor/Authorised Signatory

Dealing Office address/Td -no/Dx no/Faxno.

Code No of the Member

To,

Constituent Name/Code No/Canstitueni Order Ref. No

Sir/ Madam,

I/We have lMs day done by order and on your account the Following transactions:

ANNEXUREIA

Tdno

TIXDO:

Fax no

Contract No:

Order

No.

Trade

Time

Quantity

Bought for vou

Price

Brokerage

{Total)

Service

Tax

Amount

(Rs.)

Contract

Specifications

Quantity¹

Price

SoMforyoti

Brokerage

(Total)

Service

Tax

Amount

(Rs.)

OTHER LEVIES, IF ANY:

Brokerage has been charged as staled and has been at rales not exceeding the official jcale of brokerage and indicated separately.

This coana is subject to ihe Rules, Bye-Laws and Regulations and usages of The National Stock Exchange of India limited, Mumbai.

This contract is subject to Ihe exclusive jurisdiction of the Courts in Mumbai only.

In tbe event of any claim (whether admitted or not) difference or dispute arising between you and rue/us out of these transactions, the matter shall be referred lo arbitration u provided in the Rules, Bye-laws and Regulations

of the National Stock Exchange of India Limited, Mumbai.

Ths cortract constitutes and shall be deemed to constitute as provided overleaf an agreement between you and rne/us that al] claims (whether admitted or not), differences and disputes m recpect of any dealings, transactions

and contracts of a dale prior or subsequent to the date of this contract (including any question -whether such dealings, transactions or contracts have been entered into or not) shall be submitted to and decided by arbitration as

provided in the Rules. Bye-Laws and the provisions printed overleaf form a part of the contract

MUMB:\I

Date

Yours faithfUlly,

Member of National Stock Exchange of India Limited

170

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART —IV

EXTRACTS FHOM THE BYELAWS * REGULATIONS FERTAINING TO ARBITRATION

(1) All claims, differences or dispute* between the Trading Members wter se and bdween TrsdmgMenjben and OmstitiKnU arising out of cr in rd«tioo to 6Valmg», contracts and transactions made subject to the Bye-Laws,

Rules and Regulations of the Exchange or wife reference to anything inci dental thereto or in puraiaoceAereof or reUting to their vslidity, construction, interpretation, fulfillment or the rights, obligations and liabilities of the

parties thereto and inchidmg any question of whether such dealings, transact ions and contracts have been entered into of not shall be submitted to arbitration in accordance with the provisions of these Byelaws and

Regulations.

(2) In all dealings, contracts and transactions, whkn are made or deemed to be made subject to the Byelaws, Rules and Regulations of the Exchange, the provisions relating to arbitration as provided in these Byelaws and

Regulations shall form and shall be deemed to form part of the dealings, contracts and transactions and the parties shall be deemed to have entered into an arbitration agreement in writing by which aO claims, differences or

disputes of the nature referred to in clause (1) above shall be submitted to arbitration as per the provisions of these Byelaws and Regulations.

(3 ) AD claims, differences or disputes referred to in clause (1) above shall be submitted to arbitration within six moiShs from the date on which the claim, difference or dispute arose or shall be deemed to have arisen. The

time taken in conciKation proceedings, if any, initiated and conducted as per the provisions of the Act and the time takes by the Relevant Authority to administratively resolve the claims, differences or dispute shall be

excluded for the purpose of determining (he period of six months.

(4) Save as otherwise specified by the Relevant Authority, the seat of arbitration for different regions shall be as follows:

Srtta

ArMtntfoa

REGIONAL

ARBITRATION

CENTRES (RACY)

DELHI

CALCUTTA

CHENNAI

MUMBAI

STATES COVERED BY THE RAC

Delhi, Haryana, Utter Pradesh, Himacha] Pradesh, Punjab, Jammu & Kashmir, Chandigarh, Rajasthan.

West Bengal, Bihar, Orissa, Assam, Aiunachal Pradesh, Mizoram, Manipur, Sikkim, Meghalaya, Nagaland Trtpura.

Andhra Pradesh, Kmataka, Kerala, Tamilnadu, Andaman & Nicobar, Lakshadweep, Pondicherry.

Maharashtra, Gujarat, Goa, Daman, Diu, Dadra & Nagar Haveli, Madhya Pradesh,

(I) Save as otherwise specified by the Relevant Authority, the criteria for selection of seat of arbitration for a particular matter is as follows:

Parties

Dispute

TM* V/s Trading

Member

TM V/i C*

C V/% TM

Place of filing the Application for Arbitration

a) If the dealing offices of both Trading Members from where the

dealing was carried is situated in any one of the states covered by a

particular RAC then the Application for Arbitration shall be filed by the

Applicant-Trading Member in that RAC.

b) If the dealing offices of both Trading Members from where the

dealing was carried out are situated in nates covered by different RACa

then the Application for .Arbitration shall be filed in the RAC covering

the state in which the Respondent -Trading Member's dealing office is

situated.

The Application for Arbitration shall be filed by the Applicant at the

RAC covering the state in which the dealing office of the Trading

Member from which the dealing was carried out is situated.

Place of hearing

The bearing shall be held at the RAC where the Applicant-Trading Member has filed the Application for Arbitration and

the Respondent-Trading Member shall attend the hearing tn that particular RAC.

The bearing shall be held m that RAC where the Applicant has filed the Application for Arbitration and the Respondent

shall atteod the hearing in that particular RAC.

•

*TM" stanb for "Trading Member" aad "C" stands for "CoBstttwBt."

Fcr more details please re/er to Chapter XI of the Byelaws and Chapter 5 of Futures & Options segmeol Trading Regulations of Na'ortal Stock Exchange of India limited.

PAKI —IV]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

171

CONTRACT NOTE

Subject to exclusive jurisdiction of the courts in MUMBAI on!

CONTRACT NOTE ISSUED BY MEMBERS DEALING WITH

CONSTITUENTS AS PRINCIPALS

Name of Partner/

Proprietor/Authorised Signatory

Dealing Office address/Tel no/Tlx no/Faxno

Code No. of the Member

Name of the Member

Address of tbe Member

SEBI RegnNo. of'he Member

Tel no.

TL\ no:

Fax no

ANNIXURE IB

To,

Constituent Name/Code No/Constituent Order Ref No

Sir/Madam,

Contract No.

I/We have this day ENTERED INTO following transactions as PRINCIPALS) TO PRINCIPALS):

Order No.

Trade

No.

Trade

Time

Bought from you

Quantity

Price

Amount

(Rs.)

Contract

Specifications

Sold to yon

Quantity

Price

Amount

(Rs.)

OTHER LEVIES, IF ANY:

This contract is subject to tbe Rules, Bye-Laws and Regulations and usages of The National Stock Exchange of India Limited, Mumbai.

This contract is subject to the exclusive jurisdiction of the Courts in Mumbai only.

hi the event of any claim (whether admitted or not) difference or dispute arising between you and me/us out of these transactions, the matter shall be referred to arbitration as provided in tbe

Rules, Bye-laws and Regulations of the National Stock Exchange of India Limited, Mumbai.

This contract constitutes and shall be deemed to constitute as provided overleaf an agreement be'tween you and me/us that all claims (whether admitted or not), differences and disputes in

respect of any dealings, transactions and contracts of a date prior or subsequent to the dale of this contract (including any question whether such dealings, transactions or contracts have been

entered into or not) shall be submitted to and decided by arbitration as provided in the Rules, Bye-Laws and the provisions printed overleaf form a part of the contract.

MUMBAI

Date

Yours firithfullv.

172

THE-GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

(PAKI —(V

Member of National Stock Exchange of India Limited

EXTRACTS FROM THE BYELAWS & REGULATIONS PERTAINING TO ARBITRATION

(1) All dams, differences or disputes between the Trading Members infer te and bttweeaTrad^ Membgs gri C<»wf^itn1ii argk^ outof Of inreUlionto rtfalingi, contracts and tranacboos made subject to the Bye-Laws,

Rules and Regulations of the Exchange or with reference to anyming inridentai thereto or in rcrinanretherecforreliang to their validity, construction, interpretation, fulfillment or the rights, obligations and Kabilkies of the

parties thereto and mdudmg any question of whether such deaibgs, transactions and contracts hove been entered into or Dot shall be submitted to arbitration in accordance with the provinces of these Bytliwi and

Regulations.

(2) In aD dealings, contracts and transactions, which are made or deemed to be made subject to tbe Byelaws, Roles and Regulations of the Exchange, the provision* relating to arbitration as provided in fbeae Byelaws and

Regulations shall form and shad be deemed to form part of tbe dealings, contracts and transactions and the parties shall be rhvmsri to have entered into an arbitration; agreement in wrkmg by which all damn, differences or

disputes of the nature referred to in clause (1) above shall be submitted to arbitration as per the provisions of fliese Byelawi and Reguhtko*.

(3 ) All claims, differences or disputes referred to m clause (1) above shall be submitted to arbitration within six.months from the date on which the claim, difference or dispute arose or shall be deemed to nave arisen. The

time taken in conciliation proceedings, if any, initialed and conducted as per the provisions of the Act and the time taken by the Relevant Authority to administratively resolve the dams, differences or dispiajw shall be

excludedforfbepurposeofdeterminingtheperio^orsixinonths. ,

(4)

Save as otherwise specified by tbe Relevant Authority , the seat of arbitration for different regions shall be as follows:

Sects

Arbatratkm

REGIONAL

ARBITRATION

CENTRES (RACs)

DELHI

CALCUTTA

CHENNAI

MUMBAI

STATES COVERED BY THE RAC

Delhi, Haryana, Utter Pradesh, Himachal Pradesh, Pmnab, Jammu & Kashmir, Chandigarh, Rajasthan.

West Bengal Bihar, Orissa, Assam, Arunacbal Pradesh, Mizoram, Manipur, SOdam, Meghalaya, Nagalaod, Tripura.

Andhra Pradesh, Kamataka, Kerala, Tamilnadu,^A~*—"-" ft Nicubar, Laksbadweep, Pondicherry.

Maharashtra, Gujarat, Goa, Daman, Dili, Dadra & Nagar Havefi, Madhya Pradesh,

(5) Save as otherwise specified b> the Relevant Authority, the criteria for selection of seat of arbitration for a particular matter is as follows:

Parties to Dispute

TM* V.'s Trading

Member

TM Vs C*

C VsTM

Place of filing the Application for Arbitration

a) If the dealing offices ofbotfa Trading Members from where the '*"«K"f wae earned is "*"•*"* in any one

of the states covered by a particular RAC, then tbe Application for Arbitration shall be filed by the

Applicant-Tradmg Member in that RAC.

b) If the dealing offices of both Trading Members from where the dealing was carried out are situated «i

stats covered by different RACg, then the Application for Arbitration shall be filed in me RAC covering

the stale in which the Respondent -Trading Member's dealing office is tiTiPitivl

The Application for Arbitration shall be filed by the Appltcad at me RAC covering the state in which me

dealing office of tbe Trading Member from which the dealing was carried out is situated.

Place ofnearmg

Tbe hearing shall be held at me RAC where me Applicant-Trading Member has filed the

Application fir Arbitration and the Respondent-Trading Member shall attend the hearing n

that particular RAC.

The hearing shall be held in mat RAC where the .Applicant has Sled fee Application for

Arbftration and the Respondent shall attend the bearing in that particular RAC.

"TM" stawb for -Tnrffaf Mwkcr" a»d " C staads for "Coosdtwat."

For more detafli please refer to Chapter XI of the Byelaws and Chapter 5 of FU&T^S & Ope is segment Trading Regulations of National Stock Exchange of India limited.

P A R T — I V ]

T H E G A Z E T T E O F LN'DIA, M A Y 2 6 . ZO'U (JYAISTHA 5. I'^IM

Ammj^Mji

M!§KDKCLOSUREDOCUMEM

(THIS DOCUMENT SHOULD BE REAP BY EACH AMP EVERY PROSPECTIVE CONSTITUENT BEFORE ENTERING INTO PERIVATtvCT TRADIN-.' *WJ I

SHtMJLP BE READ IN CONJUNCTION WITH CLAUSE 4JU OF THE NSE ffiTTURES O. OITIONS) TRACING Bf.Gl'LAI li> i. iil TF& '• ••'.•;.. -.y-'~j ~? \- '

EOf^GEOjrrNMALJMIII.»J?!2HIii

" -

""• "

i NSEIL has not passed the merits of paracipating in this trading segment noi has NSfc.L passed .

; the adequacy or accuracy of this disclosure iocumeti* rMs brief statement does no: C- •' :\-.r v

: 3f thp risks and other hi&iif'cjp* ^spe?ts of -ra-^ing. *T light of the nsks. you should ULUV1.' \

such transactions only it you understand tiie nature oi the contracts {and coim^et-jA*. <

relationships) into v*>jch you are entering and the extent of your exposure to risk Pisk of loss '

ai trading in derivatives can be substantial. You should carefully consider whether trading <'

appropriate for you in light .of your experience, objectives, financial resources and othe :

I relevant circumstances. Derivatives trading thus requires not only the necessary financial ;

; rs&uurces but also fee F:\m\ciiu and ^rx-iiori£i ieripe.'*tiieni tr< case of any -c-Jtse.]. "• • .-•

loss m the Futures Si Optiors segment, the constituent =haU be soielv responsible for ?X"*b -'•-> .

(

•

client to take the plea that no adequate disclosure was made or he was not explained *he full |

risk involved by the member. Tlie client will be solely responsible for the consequences and no '•

contract can be rescinded on that account.

MSKSJNVOLVED IN TRADING IN DERIVATIVES CONTRACTS

Effect of "Leverage" or "Gearing"

The amount of margin is small relative to the value of the derivatives contract so the

transactions are 'leveraged' or 'geared'.

Derivatives trading, which v- rrr^n^ec

v •>th a relatively small amount of margin, provides the

possibility of great profit or loss in comparison with the principal investment amount. But

transactions in derivatives carry a high degree of risk.

You should therefore completely understand the following statements before actually trading in

derivatives trading and also trade with caution while taking into account one's circumstances, j

financial resources, etc. If the prices move against you, you may lose a part of or whole margin I

equivalent to the principal investment amount in a relatively short period of time. Moreover, the j

loss may exceed the original margin amount.

A. Futures trading uivotves daily settlement of dl posit'ons. Every day the open positions are

marked to market based on the closing level of the index. If the index has moved against j

you, you will be required to deposit the amount of loss (notional) resulting from such ;

10—80GI/200I

174

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART—IV

movement. This margin will have to be paid within a stipulated time frame, generally

before commencement of trading next day

B. If you fail to deposit the additional margin by the deadline or if an outstanding debt occurs

in your account, the broker/member may liquidate a part of or the whole position or

substitute securities. In this case, you will be liable for any losses incurred due to such

close-outs.

C. Under certain market conditions, an investor may find it difficult or impossible to execute

transactions. For example, this situation can occur due to factors such as illiquidity i.e.

when there are insufficient bids or offers or suspension of trading due to price limit or

circuit breakers etc.

D. In order to maintain market stability, the following steps may be adopted: changes in the

margin rate, increases in the cash margin rate or others. These new measures may be

applied to the existing open interests. In such conditions, you will be required to put up

additional margins or reduce your positions.

E. You must ask your broker to provide the full details of the derivatives contracts you plan to

trade i.e. the contract specifications and the associated obligations.

Risk-reducing orders or strategies

The placing of certain orders (e.g., "stop-loss" orders, or "stop-limit" orders) which are

intended to limit losses to certain amounts may not be effective because market conditions may

make it impossible to execute such orders. Strategies using combinations of positions, such as

"spread" positions, may be as risky as taking simple "long" or "short" positions.

Suspension or restriction of trading and pricing relationships

Market conditions (e.g., illiquidity) and/or the operation of the rules of certain markets (e.g., the

suspension of trading in any contract or contact month because of price limits or "circuit

breakers") may increase the risk of loss due to inability to liquidate/offset positions.

Deposited cash and property

You should familiarise yourself with the protections accorded to the money or other property

you deposit particularly in the event of a firm insolvency or bankruptcy. The extent to which

you may recover your money or property may be governed by specific legislation or local rules.

In some jurisdictions, property which has been specifically identifiable as your own will be pro-

rated in the same manner as cash for purposes of distribution in the event of a shortfall. In case

pAR1 _ i v ]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

175

of any dispute with Ihe member, the same shall be subject to arbitration as per the

byelaws/regulations of the Exchange.

Risk of Option holders

1. An option holder runs the risk of losing the entire amount paid for the option in a relatively

short period of time. This risk reflects the nature of an option as a wasting asset which

becomes worthless when it expires. An option holder who neither sells his option in the

secondary market nor exercises it prior to its expiration will necessarily lose his entire

investment in the option. If the price of the underlying does not change in the anticipated

direction before the option expires to an extent sufficient to cover the cost of the option, the

investor may lose all or a significant part of his investment in the option.

2. The Exchange may impose exercise restrictions and have authority to restrict the exercise of

options at certain times in specified circumstances.

Risks of Option Writers

1. If the price movement of the underlying is not in the anticipated direction the option writer runs

the risks of losing substantial amount.

2. The risk of being an option writer may be reduced by the purchase of other options on the same

underlying interest-and thereby assuming a spread position-or by acquiring other types of

hedging positions in the options markets or other markets. However, even where the writer has

assumed a spread or other hedging position, the risks may still be significant.

A spread

position is not necessarily less risky than a simple iong' or short" position.

3. Transactions that involve buying and writing multiple options in combination, or buying or

writing options in combination with buying or selling short the underlying interests, present

additional risks to investors. Combination transactions, such as option spreads, are more

complex than buying or writing a single option. And it should be further noted that, as in any

area of investing, a complexity not well understood is, in itself, a risk factor. While this is not

to suggest that combination strategics should not be considered, it is advisable, as is the case

with all investments in options, to consult with someone who is experienced and knowledgeable

I7fc

THE GAZETTE OF INDIA, MAY 26. 2001 (JYAISTHA 5. 1023;

[PARI —IV

with respect to the risks and potential rewards of combination transactions under various

market circumstances.

Commission and other charges

Before you begin to trade, you should obtain a clear explanation of all commission, fees and other

charges for which you will be liable. These charges will affect your net profit (if any) or increase

your loss

i "

i Trading facilities

The Exchange offers electronic trading facilities vhich are computer-based systems for order-

routing, execution, matching, registration or clearing of trades. As with all facilities and

systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain

losses may be subject to limits on liability imposed by the system provider, the market, the

clearing house and/or member firms. Such limits may vary; you should ask the firm with

which you deal for details in this respect.

This document does not disclose all of the risks and other significant aspects involved in

trading on a derivatives market. The constituent should therefore study derivatives trading

carefully before becoming involved in it.

j I hereby acknowledge mat I have received and understood this risk disclosure statement.

i Customer Signature (If Partner, Corporate, or other Signatory, then attest with company seal.)

ZDDDDDQD

, r

~i> M M Y

V ¥

I-.,., - 17 |

THO GAZF.TTH OF INDIA. MAY 2b, 2001 (JYAISTHA 5. 1^3)

177

NATIONAL SECURITIES CLEARING CORPORATION LIMITED

The provisions contained in NSCC (Futures & Options) Regulaiions are amended lo the

extent gn'en hereunder-

(l) The definitions of the following terms are incorporated in the definitions chapter at

appropriate places

1 American style option contract

American Style option contract means an option contract which may be exercised on any

day, on or before the expiration day.

2. Assignment

Assignment means allocation of an option contract which is exercised, to a short position

in the same option contract, at the same strike price, for fulfillment of the obligation, in

accordance with the procedure specified by the Relevant Authority, from time to time.

3. At the money or Near the money strike price

At the money or Near the money⁷ strike price is the strike price of the option contract at

or within such range of the underlying as may be specified by the Relevant Authority

from time to time.

4. Capped Style option contract

Capped Style option contract means an option contract which shall be exercised ipso

facto on or before expiration time upon the value of the underlying reaching the cap price

for the option at any time as the Relevant Authority may specify from time to time for

various option contracts.

5. Contract Value

Contract Value is the value arrived at by multiplying the strike price of the option

contract with the regular /market lot size.

6. Exercise

Exercise means the invocation of right, in accordance with and subject to Rules, Byelaws

and Regulations of Clearing Corporation, by the holder of the option.

7. Exercise or Strike Price

Exercise Price or Strike Price is the price per unit of trading, at which the option holder

has the right either to buy or sell the underlying, upon exercise of the option.

178

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART —IV

8. Exercise Style

Exercise Style of an option refers to the price at which and/or time as to when the option

is exercisable by the holder. It may either be an American style option or an European

style option or capped style option or such other exercise style of option as the Relevant

Authority may prescribe from time to time.

9. Expiration time

Expiration time is the close of business hours on the expiration day of the option contract

or such other time as may be specified by the Relevant Authority from time to time.

10. European style option contract

European Style option contract means an option contract, which may be exercised only

on the expiration day, on or before the expiration time, or such other day and/ or time as

may be specified by the Relevant Authority from time to time.

11. Futures style premium settlement

Futures Style premium settlement means premium settlement of option contracts based

on settlement system as specified by the relevant authority for futures contracts and

would include initial margins and mark to market settlement on long and short option

positions, in accordance with the Regulations specified by the Relevant Authority from

time to time.

12. In the money strike price

In the money strike price, in case of Put Option, is the strike price of the option contract

which is above 'At the money or Near the money' strike price,

In the money strike price, in case of Call Option, is the strike price of the option contract

which is below 'At the money or Near the money' strike price.

13. Option Class

Option contracts of the same type and style that cover the same underlying constitute an

option class.

14. Option Holder

Option holder is a person who has bought an option contract

PART —IV]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, L923L.

179

15. Option Seller

Option seller is a person who has sold an option contract.

16. Options contract

Option Contract is a type of Derivatives Contract which gives the buyer/holder of the

contract the right (but not the obligation) to buy and/ or sell the underlying security at a

predetermined price within or at the end of a specified period. The option contract, which

gives a right to buy, is called a Call Option and the option contract that gives a right to

sell is called a Put Option.

17. Out of the money strike price

Out of the money strike price, in case of Put Option, is the strike price of the option

contract which is below 'At the money or Near the money' strike price.

Out of the money strike price, in case of Call Option, is the strike price of the option

contract which is above 'At the money or Near the money' strike price.

IS. Premium

Premium is the price which the buyer of the option pays to the seller of the option for the

rights conveyed by the option contract.

19. Premium style premium settlement

Premium Style Premium Settlement means payment of full option premium by the buyer/

holder of an option contract to the seller of the option contract, on purchase of such

option contract by the buyer/ holder.

20. Series of Options

Series of Options means all options of the same class having the same exercise price and

expiration day.

21. Specified period

Specified period for an option contract is the time period between the start day and the

expiration time,

22. Settlement Amount

Settlement amount shall include premium settlement amount and/ or exercise settlement

amount and /or such other amount as may be specified by the Relevant Authority from

time to time.

180

THE GAZETTE OF INDIA. MAY 26, 2001 (JYAISTHA 5, 1923)

[PART—IV

23. Settlement Price

Settlement price, in respect of Exercise Settlement, is the closing price of the underlying

on the day of exercise or such other price as may be decided by the relevant authority

from time to time.

24. Type of option

Type of option means the classification of an option as either a put or a wA

25. Underlying

Underlying is one with reference to which derivative contracts are permitted to be traded

by the Specified Exchange from time to time.

(II) The following chapter is inserted, after Chapter 5, as Chapter 5A

QUOTE

5A SETTLEMENT OF INDEX OPTION CONTRACTS

5A.1

Daily Premium Settlement for Index Option contracts

F&O Clearing Members with a long position in Index Option contracts are obliged to

effect pay-in to Clearing Corporation of the premium value at which the index option

contracts were purchased, towards settlement and F&O Clearing members with a short

position in Index Option contracts are entitled to receive the premium value at which the

Index option contracts were sold, towards settlement, from Clearing Corporation.

a) Mode of premium settlement: The daily premium settlement obligation shall

be paid in cash or such other form as may be specified by the relevant

authority.

b) Style of premium settlement: The style of premium settlement may be

premium style or futures style or such other style as may be specified by the

relevant authority from time to time. Clearing Corporation shall specify the

style of premium settlement for all index option contracts that are cleared and

settled. Clearing Corporation shall from time to time, specify the procedure

for premium settlement for one or more styles of premium settlement.

c) Method of premium settlement: Clearing Corporation shall arrive at Iht

premium settlement amount payable or receivable by the respective clear;ng

members at the end of each trading day or such other time, as ma) bt

specified by the relevant authority from time to time, for all index option

contracts cleared and settled, in accordance with the style of premium

settlement, and communicate the same to the Clearing Members. Accordingly,

PART—IV]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1423)

I XI

such Clearing Members shall pay or receive such premium settlement amount

towards settlement to or from Clearing Corporation.

d) Time of premium settlement: The relevant authority shall specify from time to

time the day and time when Premium settlement shall take place

5A.2

Exercise

(a)

Type of Exercise

Type of exercise for an index option contract may be Voluntary or Automatic or such other

type as may be specified by the relevant authority from time to time.

Voluntary Exercise

Voluntary exercise is when a Clearing Member exercises an in-the-money index

option contract, at his volition, subject to the Rules/ By-laws and Regulations :>f

Clearing Corporation.

Automatic Exercise

Automatic exercise is when all in-the-money index option contracts are

automatically deemed to be irrevocably exercised, on the Expiration date, subject

to the Rules/ By-laws and Regulations of Clearing Corporation.

Notwithstanding the foregoing, if a Clearing Member desires not to exercise an

in-the-money index option contract, it shall be the responsibility of such Clearing

Member to give appropriate instructions in accordance with Regulation 5A.2(c) 3.

Further, if a Clearing Member desires to exercise an at-the-money index option

contract or an out-of-the-money index option contract, it shall be the responsibility

of such Clearing Member to give appropriate instructions in accordance with

Regulation 5 A.2.(c) 1.

(b)

Exercise Mechanisms.

Exercise mechanism may be Interim or Final or such other mechanism as may be

specified by the relevant authority from time to time.

Interim Exercise

Interim Exercise is only in case of American style index option contracts The

Exercise type may be voluntary.

JJ—8OQV2(KJ|

182

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PARI —IV

Final Exercise

Final Exercise is in case of both American Style index option contract and

European style index option contract. The Exercise type may be voluntary or

automatic.

(c)

Exercise procedure

The procedure for exercise of an index option contract by a Clearing Member shall be as

specified hereinafter or such other procedure as specified by the relevant authority from

time to time:

Notice of exercise to Clearing Corporation

The relevant authority may specify from time to time the provisions

regarding exercise of index option contracts including:

(a)

type of members who may exercise

(b)

facility/ system for tendering notice of exercise

(c)

day/ s when exercise notice may be submitted

(d)

minimum lot size of index option contracts which may be

exercised

(e)

time period within which exercise notice may be submitted

(f)

maximum number of index option contracts which may be

exercised on a day or within a period

(g)

such other conditions as it deems fit

Notice for exercise shall be deemed to be on the long in-the-money

positions in an index option contract at the close of the trading hours on the

day the notice of exercise has been tendered, or such other day/ time as

may be specified by the relevant authority from time to time.

No Member shall revoke or modify any exercise notice so submitted

except as provided under the Rules, By-laws and Regulations of Clearing

Corporation.

Acceptance of Exercise notice by Clearing Corporation

An exercise notice which has been tendered in accordance with the provisions as

detailed in 5A.2.1 may be considered for acceptance by the relevant authority.

Such exercise notices shall be declared as valid or invalid by the relevant

authority only after processing, at the close of trading hours on the day on which

the exercise notice has been tendered, or on such other day or time, as may be

PART—IV]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

183

specified by the relevant authority from time to time All invalid exercise notices

shall stand rejected by the relevant authority.

Notwithstanding the foregoing, the relevant authority may reject an exercise

notice where:

(i) if the Clearing member who has tendered a notice for exercise has no open

positions in that contract, at the time when such notice is processed by the

relevant authority.

(ii) any other reason

Revocation of an exercise notice by a member

Unless permitted otherwise, all valid exercise notices shall be irrevocable

Notwithstanding the foregoing, the relevant authority may specify from time to

time the terms and conditions subject to which the exercise notice may be

revoked by a Clearing member.

Restrictions on Exercise

The relevant authority shall be empowered to impose such restrictions on exercises

in any index option contract as it may deem necessary in the interest of maintaining

a fair and orderly market in the index option contract or in the underlying securities

or otherwise deems advisable in the public interest or for the protection of

investors. Any exercise in contravention of such restriction is not valid.

5A.3

Assignment

(a)

Assignment methods

Assignment methods may be Proportionate or Random or such other method as may be

specified by the relevant authority from time to time.

Proportional Assignment

Proportional Assignment takes place when an index option contract which has

been exercised is allocated proportionately to short positions in the index option

contract with, the same series, in accordance with the procedure specified by the

relevant authority from time to time.

Random Assignment

Random Assignment takes place when an index option contract which has been

exercised, is allocated randomly to one or more than one short position, in the

184

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART—IV

index option contract with the same series, in accordance with the procedure

specified by the relevant authority from time to time.

(b)

Assignment procedure

Exercise notices accepted by Clearing Corporation shall be assigned in accordance with

the Assignment method, as may be specified by the relevant authority from time to time,

to open short positions in the index option contracts, with the same series, for fulfillment

of obligations. The assigned Clearing Members shall be liable to pay the exercise

settlement amount to Clearing Corporation. Clearing Corporation shall in turn pass on

such amount to the Clearing Member who has exercised the index option contract subject

to the Rules, Bye-laws and Regulations of Clearing Corporation.

(c)

Allocation of Assignment by Clearing Members

The relevant authority may specify from time to time the procedure for allocation of

assigned short positions in the index option contract by the Clearing Members, to their

clients/ Trading Members/ clients of Trading members.

5A.4

Exercise Settlement

An index option contract which has been exercised and assigned by the relevant authority

shall be settled in accordance with the procedure provided hereinafter or such other

procedure as may be specified by the relevant authority from time to time.

a) Mode of settlement: Settlement obligation shall be paid in cash or such other form as

may be specified by the relevant authority.

b) Method of settlement: (1) An index option contract which has been exercised, and the

open short position to which such exercised index option contract has been assigned,

shall be deemed to be closed out at the settlement price on the day of exercise.

(2) The Clearing Member who has been assigned the index option contract shall be

liable to pay to Clearing Corporation any loss represented by the difference between

the strike price of the index option contract and the settlement price for each unit of

the index option contract (which has been assigned) which shall, in turn be passed on

by Clearing Corporation to the Clearing Member who has exercised the index option

contract subject to the Rules, Byelaws and Regulations of Clearing Corporation.

(3) The Clearing Member who has exercised the index option contract shall be

entitled to receive from the Clearing Corporation any profit represented by the

difference between the strike price of the index option contract and the settlement

price for each unit of the index option contract (which has been exercised) which

shall be collected by the Clearing Corporation from the Clearing Member who has

pAR1 __iv]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

185

been assigned the index option contract subject to the Rules, Byelaws and

Regulations of Clearing Corporation,

(4) Such loss or profit shall be referred to as 'Exercise Settlement Value'.

c) Time of settlement: The relevant authority shall specify from time to time the day

and time when settlement shall take place.

5A.5

Clearing Forms

All Clearing Forms shall be as specified in the relative regulation or in such other form or

forms as the relevant authority may from time to time prescribe in addition thereto or in

modification or substitution thereof.

5A.6

Settlement Obligations Statement!

Clearing Corporation shall facilitate download of relevant data to F&O Clearing

Members and Trading Members to enable them to generate Premium Settlement, Other

Settlement Obligations Statements pertaining to transaction* in different kinds of Index

option contract*.

5A.7

Mode of Payment

F&O Clearing Members shall, on the designated pay-in day, have clear balance of funds

in their clearing account to the extent of their funds obligation. Provided however the

relevant authority may specify different mode of payment of funds for all or any of the

F&O Clearing Members.

5A.8

Receipt of Fundi

The Clearing Bank shall credit the clearing accounts of the F&O Clearing Members who

are due to receive funds as per the instructions of Clearing Corporation. All funds due to

a F&O Clearing Member shall normally be credited to his account unless (a) the F&O

Clearing Member does not perform his obligations to Clearing Corporation or (b) it is

otherwise ordered so by the relevant authority;

Provided however the relevant authority may specify different mode of funds credit for

all or any of the F&O Clearing Members.

UNQUOTE

For National Securities Clearing Corporation Limited

R. Jayakumar

Asst. Company Secretary

186

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART—IV

THE DELHI STOCK EXCHANGE ASSOCIATION Lf&

Regd. Office: DSE House, 3/1, Asaf All Road, New Delhi-110 00i!

Amendment in the Bye-laws and Regulations of Delhi Stock

Exchange Ltd. which is duly approved by Securities & Ex-

change Board of India vide Its letter No. SMD/SA&ID/24105/

2001 dt. 27 February, 2001

350.

A member shall be deemed to be guilty of unpro-

fessional conduct for any of the following or similar acts or

omissions namely;

(xl) Advertisement - if he advertises for business purposes

or issues regularly circulars or other business communica-

tions to persons other than his own constituents, members

of the Exchange, Banks and Joint Stock Companies or pub-

lishes pamphlets, circulars or any other literature or report

or information relating to the Stock Markets in the public

prints with his name attached unless such advertisements,

circulars, other business communications, pamphlets, or

any other literature or report or Information relating to the

stock markets and the material contained therein are In

accordance with the Regulations or such other guidelines

as the Board of Directors may from time to time Issue in

addition thereto or in modification or substitution thereof

and copies thereof are submitted to the Stock Exchange

seven days before their issue.

REGULATION-17

Guidelines for Advertisements by members

17.1 The content of the advertisements, brochures etc.

should be related only to the nature of services that

stockbroker can offer in respect of sales and pur-

chase of shares and securities only. The advertise-

ment, brochure etc. should not contain recommen-

dations regarding purchase or sale of any particular

share or security of any company and or any recom-

mendation regarding any company.

17.2 The advertisement, brochure, etc. can be published

by a member-broker individually or jointly with other

member-broker(s) so as to enable small brokers to

pool their resources for publicity.

17.3 The advertisement, brochure etc. should mention the

name/title as recorded for the membership of the

Stock Exchange along with the code number allot-

ted by the Securities and Exchange Board of India.

It can also Include the names of the sub-brokers af-

filiated with the broker and registered with the Secu-

rities and Exchange Board of India. The broker should

also designate and authorise and name the author-

ised person in the publication to ensure the correct-

ness of the Information given in the advertisement,

brochure etc. and prior approval of the Stock Ex-

change should have been obtained in respect of such

authorised person. The authorised person will be

specifically responsible when two or more brokers

jointly advertise for brokerage business.

17.4 a)

The members should ensure that any Infor-

mation given in the advertisement, brochure

etc. must be correct and accurate and contain

matters of objectively ascertalnable facts

which should be capable of substantiation.

It should not have any adverse reference di-

rect or Indirect regarding the reputation of other

members of the Stock Exchange and also the

Stock Exchange.

The advertisement, brochure etc. should not

contain anything which Is otherwise prohib-

ited for publication under the relevant Act, un-

warranted, misleading Information or make any

promises. It will contain written words and shall

not be assisted by any other visual such as

pamphlets and drawing.

17.5 The advertisement, brochure, etc. should not include

publicity for any party other than the member him-

self and it should not contain any reference to any

person, firm or institution except as provided for in

Regulations 17.2 and 17.3.

17.6 The member-broker should not allow his/her or his/

her firm's name to be advertised by others or allow

his/her firm's name to be published In the advertise-

ment of others, except as provided for in Regula-

tions 17.2 and 17.3.

17.7 The member broker should submit a copy of the ad-

vertisement, brochure etc. to the Stock Exchange

authorities and Securities and Exchange Board of

India as soon as it is published. The Exchange au-

thorities will have the cease and desist powers in

this behalf.

17.8 If a member-broker violates any of the above Regu-

lations for the advertisement, brochure, etc. he/she

is liable to be penalised for the same by the Stock

Exchange authorities and/or SEBI

17.9 If the Stock Exchange authorities levy any penalty

or take any disciplinary action against the member-

broker, e.g. by way of suspension or declaring him/

her as defaulter etc., it should be immediately made

public by the Stock Exchange authorities, and the

concerned member-broker should not advertise dur-

ing the period of suspension.

pART _ I V ]

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

187

Amendment in the bye-laws of the Delhi Stock Exchange

Association Ltd. relating to Trade Guarantee Fund Bye

Laws which is duly approved by Securities & Exchange

Board of India vide its letter No. SMD/SA&ID/27312/2001

dt. 20 April, 2001.

Wherever the words "Trade Guarantee Fund" appear in

the Bye-laws of the Stock Exchange the same shall be

substituted by the words "Settlement Guarantee Fund"

366A : To be Inserted after Bye-law 366

Utilisation For Failure To Meet Obligation

366A Not withstanding anything contained in Bye-law

366 and other applicable Bye laws, the Board of Directors

or the President and Executive Director or In their

absence two members of the Board may utilise the

Settlement Guarantee Fund and other moneys to the

extent necessary to fulfill the obligations of the member

who fails to meet his obligations (non fulfillment or partial

fulfillment of the funds / securities obligations in a

settlement) to the Clearing House of the Exchange

arising out of Clearing and settlement operations of such

deals as provided in the bye laws and Regulations,

before declaring such member a defaulter subject to the

following and other terms and conditions as the relevant

authority may specify from time to time.

The trading facility of the member shall be with-

drawn and the securities pay-out due to the

member shall be withheld

(a)

in case where amount of shortage is in

excess of the prescribed Base Minimum

Capital (BMC)

(b)

in case where the amount of shortage Is

more than 20% of BMC but is less than the

amount of the BMC, on six occasions within

a period of 3 months.

(a)

The member shall be permitted to trade with

a reduced gross exposure as mentioned in

the table below only on recover of the

complete shortages.

Cumulative Funds

Shortage

20% Of BMC - 50% Of BMC

50% of BMC - 100% of BMC

Exposure

Limit allowed

(%of Current

exposure Limit)

80%

60%

(b)

This reduced Gross Exposure Level shall be

maintained for a period of 4 settlements. In

case the cumulative funds shortage for the

next 4 settlements is less than 20% of BMC,

the exposure limits shall be restored.

(c)

The exposure limit may be restored ir a

member provides a cash deposit equivalent

to his cumulative funds shortages as the

"funds shortage collateral" in his clearing

account. Such deposit shall be kept with the

Exchange for a period of 4 settlements and

will be released only if no further funds

shortages are reported for the member In

next 4 consecutive settlements.

(d)

There shall be no exposure benefit nor any

Interest payment on this amount so depos-

ited as "funds shortage collateral".

(e)

The "fund shortage collateral" may be de-

posited by the members by way of cash,

FDR or Bank Guarantee.

The outstanding amount will carry a penal Interest

of not less than 0.09% per day.

In case the concerned member fails to deposit the

amount utilised by the Exchange from the fund

towards meeting his clearing and settlement obli-

gation (non fulfillment or partial fulfillment of funds /

securities obligations in a settlement) within a

period of 30 days from the date of pay out of that

settlement, he will be declared a defaulter.

The provisions of this Bye-law are in addition to

and not In derogation of the powers of the Board,

President and Executive Director under the Bye-

laws Nos. 308, 308A, 381 and 382 and other Bye-

laws as applicable.

385A to be Inserted after Bye-law 385

Outstanding contracts Mother settlements

385A in respect of any sertlement/s which is incomplete

at the time when the payment on behalf of a member is

made from SGF to meet his obligations (non fulfillment or

partial fulfillment of the funds / securities obligations In a

settlement) to the Clearing House, the Executive Director

may at the risk and cost of such member, square up all or

any of the member's outstanding sales and purchase

positions by entering Into corresponding purchase and

sale contracts in the market. The profit or loss on such

squaring up shall In the first place be paid to or by the

fund and credited or debited by the fund to the

concerned members account with the fund.

tor The Delhi Stock Exchanae/Association Ltd.

Rajesh Kapur

Company Secretary

188

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART —IV

Changes made in the Articles of Association of the Exchange at the

77^th Annual General Meeting held on 26^th September,2000 of the

Calcutta Stock Exchange Association Limited

A new Article 5(8) be added after the existing Article 5(7):

5(8) (i)

When a Company constituted by more than one member of the

Exchange is admitted as a corporate member of the Exchange in place of

such member or a corporate member of the Exchange acquires more than

one share in accordance with and subject to fulfillment of all other

applicable Bye-laws and Regulations of the Exchange including provisions

relating to admission of new members, such a corporate member will be

known as a Composite Corporate Member and the membership right(s)

held by the Composite Corporate Member will be known as Component

Membership/s.

(ii)

A Composite Corporate Member shall fulfill all eligibility

criteria for admission to membership and for contribution of membership as

is applicable to corporate members of the Exchange and also such other

criteria as the Exchange or Securities and Exchange Board of India may

prescribe from time to time.

(iii)

A Composite Corporate Member shall not hold more than

such number of shares as may be decided by the Committee of the

Exchange from time to time.

(iv)

The Composite Members shall pay the entrance fee, admission

fee, annual subscription and fees payable to SEBI and furnish membership

security in respect of each component membership.

(v)

The Composite Corporate Member shall maintain the base

minimum capital in respect of each Component Membership, in accordance

with and subject to the other provisions of the Bye-laws and Regulations

and such conditions as the Committee of the Exchange may from time to

time stipulate,

(vi)

The nctworth of the Composite Corporate Member shall be

computed in the manner prescribed by the Securities and Exchange Board

of India and the Committee of the Exchange and no value shall be assigned

to the Component Membership for computing the networth of the

Composite Corporate Member,

(vii)

The Composite Corporate Member shaH have only one trading

right and only one representative member on the Committee or any

Standing Sub-Committee of the Exchange for all the Component

Membership/s of the Composite Corporate Member in accordance with the

Bye-Laws and Regulations of the Exchange.

PART— TV]

THIi GAZETTE OF INDIA, MAY 2b, 2001 (IYAISTHA 5, W l )

iX-j

(viii)

A Composite Corporate Member shall be entitled to have ai>

many voting rights as the number of Component Memberships of the

Composite Corporate Member at the meeting of the members uf i\-

Exchange

(ix)

A Composite Corporate Member may resign from the

membership right associated with any of its Component Membership only

after a period of two years from the date of the acquisition of thai

Component Membership by the Composite Corporate Member. All the

liabilities, if any, relating to the Component Membership in respect of

which the Composite Corporate Member has resigned will continue to b<

borne by Composite Corporate Member.

(x)

If a Composite Corporate Member desires to resign from its

Component Membership/s, the Composite Corporate Member may, in

accordance with and subject to the other provisions of Bye-laws and

Regulations and such conditions as the Committee of the Exchange may

from time to time stipulate, nominate a person/s eligible under these rules

as a candidate for admission to the inembership/s of the Fxchar.ge from

which the composite Corporate Member is resigning and the Composite

Corporate Member may continue in respect of the remaining Component

Membership/s, if any,

(xi)

The Composite Corporate Member shall maintain only one set

of books of account for all the Component Memberships

(xii)

Any action by the Securities and Exchange Board of India, the

Exchange or any Committee of the Exchange or official of the Exchange

against the Composite Corporate Member whether by way of censure,

warning, fine, suspension, expulsion, default or withdrawal, suspension or

limitation of membership rights or otherwise shall operate against all the

Component Memberships of the Composite Corporate Member.

Clarification :

Without prejudice to the generality of clause (xii) it is

clarified that on declaration of default or expulsion of a

Composite

Corporate

Member

for

any

reason

whatsoever, the Composite Corporate Member shall cease

to be a member of the Exchange in respect of all its

Component

Memberships,

and

all

the

Component

Memberships and rights of nomination in respect of all

such memberships shall vest in the Exchange or the

Governing Board in accordance with the provisions of

these Rules, Bye-laws and Regulations.

(xiii)

If a Composite Corporate Member is disentitled to or

disqualified from continuing as a member of the Exchange for any reason,

the Composite Corporate Member shall cease to be a member of the

Exchange in respect of all the Component Memberships, and all the

Component Memberships and rights of nomination in respect of all such

memberships shall vest in the Exchange or the Governing Board in

accordance with the provisions of tre "< Rules, Bye-laws and Regulations.

12—xnni/?mi

190

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

[PART —IV

(xiv)

A Composite Corporate Member shall also be entitled to all

other rights or privileges and shall be liable to pay any amount to the

Exchange or discharge liability or obligation to the Exchange as now

applicable/available to an ordinary member notwithstanding non-stipulation

of the same in the Bye-laws and Regulations of the Exchange, subject

however that such rights, privileges, obligations and liabilities to a

Composite Corporate Member shall be in proportion to its Component

Memberships.

(b)

The existing Articles 25A(e) and 25A(ee) be deleted and the

existing Article 25A(f),25A(g) & 25A(h) be renumbered as 25A(e), 25A(f)

and 25A(g) respectively.

(c)

The existing Article 45 be deleted and in place the following be

substituted as Article 45:

45.

'The Committee shall not register any transfer of

shares to any person other than a member or a

candidate for membership who has been duly elected

as eligible for membership under the provision of

Article 5 hereof and has paid the full amount of any

entrance fee/charges and/or such other sum as may

be prescribed by the Committee from time to time

and the Committee may refuse to register any

transfer of shares to an existing member or may

impose such conditions in respect of any such

transfer as they may see fit."

(d)

In the first para of Article 100 (13) the following sentence

"and/or in first debentures or cumulative redeemable preference shares of

Joint Stock Companies" be substituted with the following sentence :

"And/or in any other form or mode of investment or deposit as

may be prescribed under the Income Tax Act, 1961, and/or Indian Trust

Amendment

Act, 1908

and

1916

and/or

gilt

edged

funds

and/or

(e)

The existing Article 101(T)(a)(ii) and 101(l)(a)(iii)be deleted and

in place the following be substituted as Article 101( lXa)(ii):

101(1 )(a)(ii)

the Arbitration Sub-Committee shall consist of such

members not having less than three and not having more than five as the

Committee may from time to time determine, in addition to the President or

in his absence the Vice-President and the Executive Director who are ex-

officio members thereof by virtue of the provisions of the Articles. The

Arbitration Sub-Committee may in its sole discretion appoint a Sole

Arbitrator or three or more Arbitrators constituting the Arbitral Tribunal

provided however that the number of Arbitrators constituting the Arbitral

Tribunal shall always not be an even number,

! < • ; . '

J ' f - l t i

(

)

[

—

Notice in pursuance of section 485 (1) of The Companies Act, 1956

At an Lxtra-ordinary General Meeting of M/s. Pastor Securities Ltd. duly convened and held

at the Registered Office 10 Nehru Bazar, Punchkuian Road, NewDdhi-U0055 on the 23^rd

day of April, 2001 at 11:00 A.M., the following special resolutions passed :

(1) Resolved unanimously that the Declaration of solvency made as on 25-03-2001 under

section 488 of the Companies Act, 1956 by the Board of Directors of M/s. Pastor

Securities Ltd. be and is hereby confirmed/approved.

(2) Resolved unanimously that the Company M/s. Pastor Securities Ltd. be and is hereby

wound up as Member's Voluntary winding-up as per the provisions of the Companies

/Vet, 1956.

(3) Resolved unanimously that Sh. Pritam Dev Singla S/o Late Jagdish Rai, resident of V-

13, Green Park Main, New Delhi be and is hereby appointed Liquidator, honorary

and he will charge only the actual liquidation expenses,

Date : 24/04/2001

Place: New Delhi

(DCEpak Singla)

Director

M/s. Pastor Securities Ltd.

196

THE GAZETTE OF INDIA, MAY 26, 2001 (JYAISTHA 5, 1923)

|P\RI - IV

MATTER TO BE PUBLISHED IN OFFICIAL GAZETTE OF END1A

FORM NO. 155

(See Rule 329)

Members' Voluntary winding-up

Pheros & Company Pvt. Ltd.

Notice concerning final meeting

Noiict.' is hereby given in pursuance of Section 497 that a general meeting ol'tbe members of the

above named company will be held at 410, New Delhi House, 27-Barakhamba Road, New

Delhi-) KJUul on the 20^th day of June 2001 at 10.00 a.m. for the purpose of having an account

laid before them showing the manner in which the winding-up has been conducted and the

property of the company disposed of and of hearing any explanation that may be given by the

liquidator and also of determining by a special resolution of the company the manner in which

the books, accounts and documents of the company and of the liquidator shall be disposed of.

Anil Kumar h'hanna

0S.0S.2001

Liquidator

PRINTED BY 1HE MANAGER, GOVLKNMEN"! 01' INDIA PRkS.S, FARIDABAD, AND

PUBLISHED

BY "IHF lONTRUll.LK

Oh PUBLICATIONS,

DELHI,

2 0 0 1