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Online transfer of inter depository instructions has commenced w.e.f December 14, 2002. In the online inter depository transfer (OLIDT) module, Inter Depository Transfer instructions for the day will be exchanged online between the two depositories. Thus, the instructions executed by Depository Participants (DPs) may get settled at shorter intervals. The deadline time for DPs to verify & release Inter Depository Transfer delivery/ receipt instructions is 6 p.m. on weekdays and 2.30 p.m. on Saturdays.

Standard Chartered Grindlays Bank Limited (IN300335) has amalgamated with Standard Chartered Bank. Consequently, the DP Id of IN300335 is now allotted to Standard Chartered Bank.

Peerless Securities Limited (DP) has subscribed to the SPEED-e facility of NSDL. Clients of Peerless Securities Limited can now avail the facility of submitting account transfer instructions through SPEED-e website.

NSDL vide its Circular NSDL/PI/2002/2175 dated December 18, 2002 has clarified to its DPs that an account held by a beneficiary can be closed on the basis of a request submitted by the Client to its DP on a plain paper instead of the application for Closing an Account as given in Annexure Q in the Business Rules of NSDL. Such request submitted on plain paper can be treated as a valid application provided the following requirements are fulfilled:

• The request letter must contain all details that are specified in the Application for Closing an Account (Annexure Q).
• The Client must submit duly signed delivery instruction form(s) (Annexure L) for transferring the securities, if any.
• All the account holder(s) must sign the request.

Securities and Exchange Board of India (SEBI) vide its circular PR No.:270/2002 dated December 9, 2002 has informed that it had conducted an inspection of M/s. Manna Glass Tech Industries Limited, Ahmedabad during July 2002 to look into the alleged delay in dematerialisation of shares by the company. It was observed by SEBI that the company had kept these requests pending for more than 18 months. SEBI also observed that the company had deliberately delayed the dematerialisation of shares and was unconcerned about the grievances of the investors.

The company could not provide any plausible explanation for the delay in dematerialisation. Taking these aspects into consideration, SEBI has filed a complaint before the Additional Chief Metropolitan Magistrate, 8th Court, Mumbai against the company and its whole-time Directors viz. S / Shri Ashok N. Chokshi, Dattatray Sawant and Jayesh Mehta. The Court has taken cognizance of the offences against the accused and has issued process against them.

The telephone numbers of Delhi Office of NSDL have changed as follows :

Telephone : 011 - 23353815 / 23353817
Fax : 011 - 23353756