Bourses may shift 4 scrips to normal trading: Sebi

The regulator said the stock exchanges may consider shifting the scrips of these four companies from the Trade for

Trade Settlement TFTS to a Normal Rolling Settlement as these firms have established connectivity with both depositories 8211; NSDL and CDSL.

The 8216;Trade for trade8217; segment,is a restricted category,wherein,no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory.

In a circular issued today,Sebi has advised the bourses to report to it the action taken in this regard in the monthly/quarterly development report.

The shifting is subject to condition that 50 per cent of non-promoter holdings in these companies should be in demat or electronic form,the regulator said.

8220;The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following: at least 50 per cent of other than promoter holdings are in dematerialised mode before shifting the trading in the securities of the company from TFTS to normal Rolling Settlement,8221; Sebi said.

For this purpose,the listed companies require to obtain a certificate from its Registrar and Transfer Agent RTA and submit the same to the stock exchange,the regulator said.

In case,an issuer company does not have a separate RTA,it may obtain a certificate in this regard from a practising company Secretary/Chartered Accountant and submit the same to the stock exchange,it added.

Besides,the securities could be shifted to the normal category if 8220;there are no other grounds/reasons for continuation of the trading in TFTS8221;.