Ref: NSCCL/SEC/2004/586                                                                            July 1, 2004

 

DOWNLOAD REF NO: NSE/CMPT/5219

 

All Members / Custodians

 

Dear Sir(s)

 

Sub: MOTOR INDUSTRIES CO. LTD. (MICO) - Stock Split

 

 

1.      Motor Industries Co. Ltd. (MICO) has announced a record dated on July 16, 2004 for the purpose of  ‘Splitting the face value of shares from Rs.100 per share to Rs.10 per share’.  Accordingly, the ‘No-delivery period’ has been set up by NSCCL in the Normal Regular Market from July 9, 2004 to July 15, 2004 and the in-delivery settlement no. will be N-2004136. The first demat pay-in after the book closure start date is scheduled for July 20, 2004. Due to the stock split, NSDL shall issue new ISINs corresponding to existing ISINs of Motor Industries Co. Ltd. (MICO). This shall be effective for all outstanding balances of the security standing on July 16, 2004 in various beneficiary accounts available with NSDL.

 

2.      As per the procedure of the Clearing Corporation, clearing members can claim margin benefits by making early pay-in of securities as per their securities pay-in obligation in a given settlement.  The Clearing Members shall however be having old/existing ISIN INE323A01018 of Motor Industries Co. Ltd. (MICO) to make any early pay-in in Settlement Nos. N-2004131 to N- 2004135.  In order to enable members to effect early pay-in of securities and avail of benefit in terms of margin and exposure limits, the clearing members may effect the pay-in of securities detailed as under from their pool accounts. Members are further advised to give only transfer instructions for making early pay-in of the security in old ISIN after adjusting for the conversion / stock split vis-a-vis the sale obligation position (ten shares of new ISIN for deliverable obligation of one share of old/existing ISIN). A copy of the transfer instructions should be faxed to the Margin Section addressed to Ms. Loveena Khatwani /  Mr. Balu to claim the benefits of early pay-in (Fax Nos. 26598243/44).

 

3.      Please follow the details of account no. and instruction as under, without exception and without making any error.

 

 

1.       

CLIENT ID

10000625

1.       

DPID

IN001002

 

 

 

 

 

 

1.       

CM – BP ID

IN 510389

1.       

CM NAME

NSCCL

 

 

 

 

 

 

1.       

MARKET TYPE

NORMAL

1.       

SETTLEMENT NO.

2004136

 

 

 

4.  It may please be noted that transfer instructions are to be given in the above account of NSCCL only.  Please strictly follow the under-mentioned points:

 

4.1  Instructions given to any other accounts of NSCCL shall not be processed and shall be treated as non-delivery of securities and dealt accordingly including auction of the same as per laid down procedures.

 

    4.2   It may be noted that any IDO (Irreversible Delivery Out) instruction given in the old ISIN shall be an invalid instruction and shall not be construed for pay-in of the securities. 

 

   4.3  In case any member has given IDO inadvertently, such member may get in touch with Mr. Prashant Badlani / Ms. Asmita Datar - Securities section on phone no.26598267/68, for necessary assistance.

 

You may also note that if the instructions given in point 3 above are not followed then as a consequence, such delivery/ obligation shall remain open and result in short delivery and be dealt with accordingly.

 

 

For National Securities Clearing Corporation Ltd.

 

 

 

Jaya Chatterjee

Manager