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of <h1>SEBI Circular: Companies to Move from TFTS to Rolling Settlement if 50% Non-Promoter Holdings Dematerialized by June 2006.</h1> The circular from the Securities and Exchange Board of India (SEBI) addresses the shift of trading for certain companies from the Trade for Trade Segment (TFTS) to a rolling settlement segment. It notes that companies listed in an annexure have established connectivity with both the National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL) by June 30, 2006. Stock exchanges are advised to consider this shift if at least 50% of non-promoter holdings are in dematerialized form, as certified by the company's Registrar and Transfer Agent or a practicing Company Secretary/Chartered Accountant. Exchanges must report actions taken to SEBI in their development reports.
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