††††††††††††††††††††††† ††††††††††††††††††††††† ††††††††††† ††††††††† †††††††††††††††††† ††††††††† April 28, 2005




†††††††††††††††††† ††††††††† Re:††††††††† Base Minimum Capital

Membersí attention is hereby invited to SEBIís circular No.SMD/SED/RCG/270/96 dated 19th January, 1996 read with Circular No.SMD/RP/Policy/Cir-19/99 dated 2nd July, 1999 and Circular No.SEBI/SMD/SE/Cir-22/2003/11/06 dated 11th June, 2003 in respect of Base Minimum Capital to be maintained by the members with the Exchange. Since the payment crisis in March 2001 conditions enjoined in these circulars could not be strictly adhered to though SEBI has been repeatedly urging for strict compliance of those circulars


Hence members are informed that provisions of the above circulars shall be strictly enforced in respect of all members particularly the active trading members with effect from 10th May,2005. It may please be noted that thereafter no member will be allowed to trade in this Exchange if he/they does/do not satisfy the conditions of the above referred circulars.


Members are requested to take note of this and act accordingly.