April 02, 2007

Press Release no.1

Common platform for electronic filing and dissemination of information.

( www.corpfiling.co.in)

NSE and BSE have been working together to establish a common portal for filing and dissemination of information provided by corporate listed on the Exchanges. The URL for the portal is www.corpfiling.co.in.

On January 1, 2007, NSE and BSE jointly launched the aforesaid common portal that is jointly owned, managed and maintained by these two exchanges. Since its launch, the portal has become a single source to view information filed by companies listed with NSE and / or BSE.

From April 2, 2007, the portal shall also serve as a common filing platform to companies listed in NSE and/ or BSE. A listed company would be required to file its submissions through this portal irrespective of the stock exchange(s) on which it is listed and the information so filed can be viewed at this portal.

In the first phase, top 100 common companies computed on market capitalization shall be required to make all their filings in electronic form through the common portal. The list of these 100 companies is available on the website of NSE and BSE.

Initially for a period of 3 months, filings by these 100 companies shall continue to be as per the current practice (i.e. through fax/courier etc.) and also electronically through this portal. After 3 months, these 100 companies shall be required to make all filings only electronically to exchanges through this portal. The number of companies, which shall make their filings through this portal, shall be increased over a period in a phased manner in consultation with SEBI.

 

Press Release no.2

Suspension of Trading Members Growth Avenues Limited and Claridges Investments & Finance Pvt. Limited

 

The National Stock Exchange of India Limited has suspended the trading member, Growth Avenues Ltd., with effect from April 02, 2007, due to failure of the trading member in meeting the capital adequacy requirements for continued admittance to the trading membership of the Exchange. Consequently, National Securities Clearing Corporation Ltd. has also suspended the said clearing member, Growth Avenues Ltd., with effect from April 02, 2007.

 

The National Stock Exchange of India Limited has suspended the trading member, Claridges Investments & Finance Pvt. Ltd., with effect from April 02, 2007, due to failure of the trading member in meeting the capital adequacy requirements for continued admittance to the trading membership of the Exchange. Consequently, National Securities Clearing Corporation Ltd. has also suspended the said clearing member, Claridges Investments & Finance Pvt. Ltd., with effect from April 02, 2007.