National Securities Depository Ltd.

Participant Interface Circular

Circular No.: NSDL/POLICY/2011/0020 Date: March 5, 2011

Sub: Procedure for transfer of locked-in securities or securities held under suspended ISIN in case of account closure and/ or transmission

As Participants are aware, the securities which are locked-in by the Issuer or securities held under suspended ISIN in the depository system cannot be transferred from one account to another. Due to this restriction, transfer of securities from one account to another necessitated by account closure and/ or transmission also cannot be effected. In order to facilitate such transfers in co-ordination with the Issuer / R&T Agent, Participants are requested to adhere to the following procedure (in addition to existing procedures for account closure and transmission): (A) In case of Account Closure: (I) For Participants: 1) Participant must request the Client to submit a copy of the Client Master Report of the target account with another Participant where the securities are to be transferred. 2) Participant must verify that the target account and source account belong to the same Client. The names and order of names of the accountholders including the PANs in the source account and the target account must match. 3) After due verification, the Participant must forward a request (format enclosed at Annexure A) to the concerned Issuer/its R&T Agent alongwith copies of Client Master Report of the source account and the target account for execution of corporate action to effect the transfer of locked-in securities/ securities held under suspended ISIN.

(II)

For Issuers/ R&T Agents: 1) The Issuer must submit a Corporate Action Information Form (for transfer of locked-in securities or securities held under suspended ISIN due to account closure) as per the format given at Annexure B alongwith copy of its latest Secretarial Audit Report to NSDL.

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2)

For execution of corporate action, the Issuer has to advise its R&T Agent/Registry Division.

(B) In case of transmission: (I) For Participants: 1) Upon submission of all the required documents by the legal heir/legal representatives of the deceased Client, the Participant must verify the documents and execute the transmission in respect of all other securities (if any). 2) In respect of securities which are locked-in or held under suspended ISIN, after due verification, the Participant must forward a request (format enclosed at Annexure C) to the concerned Issuer/its R&T Agent for execution of corporate action to effect the transfer of locked-in securities/ securities held under suspended ISIN. (II) For Issuers / R&T Agents: 1) The Issuer must submit a Corporate Action Information Form (for transfer of locked-in securities or securities held under suspended ISIN due to transmission) as per the format given at Annexure D alongwith copy of its latest Secretarial Audit Report to NSDL. 2) For execution of corporate action, the Issuer has to advise its R&T Agent/Registry Division. For and on behalf of National Securities Depository Limited Samar Banwat Senior Vice President Encl: a/a

Signature Not Verified

Digitally signed by SAMAR PAWANKUMAR BANWAT Date: 2011.03.05 13:27:24 +05:30 Reason: Authentication Location: NSDL, Mumbai

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