Reporting of write off of securities held by Foreign Institutional Investors and Sub-Accounts

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y Foreign Institutional Investors and Sub-Accounts. It has been brought to our notice that some of the Foreign Institutional Investors (FIIs) have been writing off securities held by them or their Sub-Accounts (SAs) due to various reasons. It has been decided that the following procedure for writing off securities and reporting to SEBI may be adopted: 1. Securities may be written off with pr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ange and proceeds thereof net of expenses shall be credited to the Investors Protection Fund of the regional stock exchange of the company not later than 7 days from the date of receipt thereof. • the aforesaid sale transaction should be reported to SEBI as a normal sale. • Confirmation in this regard shall be submitted to SEBI on a monthly basis by means of a letter to b....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... above. 7. Reporting Procedure: a)    Write off: The write off of securities as stated at para 2 above shall be reported to SEBI as sale with nil value / compensation received from broker/exchange/bank/company under transaction code 17. b)    Write back: The write back shall be reported to SEBI as purchase in the account of the respective FII/SA under transac....