SEBI Sets Criteria for Companies Shifting from Trade for Trade Segment to Rolling Segment; Dematerialization Key.

The circular issued by SEBI on February 13, 2007, addresses the eligibility criteria for companies to shift their trading from the Trade for Trade Segment (TFTS) to the Rolling Segment. Companies listed in Annexure 'A' have established connectivity with both NSDL and CDSL by December 31, 2006. Stock exchanges may consider this shift if at least 50% of non-promoter holdings are in dematerialized form, verified by a certificate from the company's Registrar and Transfer Agent or a practicing company secretary/chartered accountant. Stock exchanges must report actions taken to SEBI in their Monthly/Quarterly Development Report.

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