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Pre-clearance of Trades |
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All Directors, Officers and Designated Employees of the Company intending to deal in the securities of the Company upto the Threshold Limit fixed, as defined and provided hereinbefore, may do so without any pre-clearance from the Compliance Officer.
In all other cases, they should pre-clear the transactions as per the pre-dealing procedure as provided hereunder : |
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Make an application in the prescribed annexed hereto, to the Compliance Officer indicating the estimated number of securities that he/she intends to deal in, the details as to the depository(ies) with which he/she maintains a security account, the details as to the securities in such depository mode and such other details as may be required by any rule made by the Company in this behalf. |
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He / She shall execute an undertaking in favour of the Company incorporating, therein, inter alia, the following clauses, as may be applicable: |
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The Directors/Officers/Designated Employees shall execute their transactions in respect of securities of the Company within one week after the approval of pre-clearance is given failing which the transaction has to be pre-cleared again. They shall hold their investments in securities for a minimum period of 30 days from the date of purchase/actual allotment. In case of personal emergency the 30 days holding period may be waived by the Compliance Officer (application to made in Form F) after recording in writing the reasons in this regard.
In case of the Compliance Officer intending to deal in the securities of the Company beyond the threshold limit the pre clearance of the Managing Director will have to be obtained. Similarly in case of personal emergency Compliance Officer may obtain the waiver from the Managing Director with regard to complying the minimum period of holding investments for 30 days. |
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