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NSDL has informed its Participants about the procedure relating to opening of depository accounts for entities incorporated as Limited Liability Partnership (LLP) which have a separate legal identity similar to body corporates incorporated under the Companies Act, 1956. The procedure is similar to the one applicable for body corporate clients except that for LLP clients, Participants should obtain Limited Liability Partnership agreement and certifi cate of registration issued to the LLP client in place of Memorandum & Articles of Association.

Participant can open depository account for LLP under Client type 'Body Corporate' and sub-type 'Limited Liability Partnership'.

This has been informed to Participants vide CircularNos. SDL/POLICY/2009/0090 dated October 1, 2009 and NSDL/POLICY/2010/0035 dated April 1, 2010.

SEBI has vide its letter no. MRD/DP/SG-OW/2569/2010 dated April 26, 2010 advised NSDL to intimate its Participants to pass on the benefi ts of the reduction in Settlement fees from Rs.5 to Rs.4.50 per debit instruction, to the benefi cial owners.This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0043 dated April 29, 2010.

NSDL has provided a facility to carry out change of name in corporate accounts for Client types viz., Body-Corporate, Bank, Financial Institution (FI), Foreign Institutional Investors (FII), Mutual Fund (MF) and Trust. In addition, following sub-types have been included in the list with respect to Client Type - Body Corporate, as given below:

This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0036 dated April 8, 2010.

In order to standardize the norms to be followed by stock brokers/ stock broker and depository participants while obtaining PoA from the clients, SEBI has issued guidelines vide its Circular no. CIR/MRD/DMS/13/2010 dated April 23, 2010.

This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0045 dated April 30, 2010.

NSDL Bye Laws have been amended providing for that in case claims, differences or disputes arise between the parties, then such claims, differences or disputes are required to be submitted to arbitration within six months from the end of the quarter of the date from which the claim, difference or dispute arose or shall be deemed to have arisen. The time taken in conciliation proceedings, if any, initiated and conducted as per the provisions of the Act and the time taken to administratively resolve the claims, differences or disputes shall be excluded for the purpose of determining the period of six months.

In cases where after examining suffi cient documentary proof submitted by the party for not fi ling the arbitration case within the limitation period, the Depository considers that the reasons for delay were indeed beyond the control of the party, the limitation period can be extended in those cases for a further period of three months by the Depository after recording the reasons for the same in writing.

This has been informed to Participants vide Circular No. NSDL/POLICY/2010/0044 dated April 30, 2010.

NSDL conducts training and certifi cation programmes for Participants to increase the availability of trained personnel for depository operations. In April 2010, such programmes were conducted in Ahmedabad,Bangalore, Chennai, Gurgaon, Jammu, Lucknow, Meerut, Mumbai, Nagpur, Noida, Patna, Srinagar, Vadodara and Vijayawada.

Novel Securities Private Limited (DP ID IN302228), a Participant of NSDL has informed NSDL about its decision to discontinue depository operations. Clients of Novel Securities Private Limited are requested to get their securities transferred to the accounts opened with any other Participant or get them rematerialized. This has been informed to Participants vide Circular No. NSDL/PI/2010/0982 dated May 6, 2010.

One more Participant has subscribed to the SPEED-e facility:

• O. J. Financial Services Limited (IN303778)

Clients of the above mentioned Participant can now avail of the facility of submitting various instructions through SPEED-e facility.

This takes the total number of Participants who have subscribed to SPEED-e to 94.