SEBI Allows Shift of Companies from Trade for Trade Segment to Rolling Segment if Criteria Met.

The circular from SEBI, dated November 13, 2006, addresses stock exchanges regarding the shift of certain companies 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 September 30, 2006. Stock exchanges can consider this shift if at least 50% of non-promoter holdings are in dematerialized form, verified by a Registrar and Transfer Agent or a practicing professional. Exchanges must report actions taken to SEBI in their Monthly/Quarterly Development Report.

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