CIRCULAR
SEBI/HO/MIRSD/DoP/P/CIR/2022/162 November 25, 2022
To,
All Depositories
All recognized Stock Exchanges and Clearing Corporations
Madam / Sir,
Sub: Extension of timelines for implementation of SEBI circulars
SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137 and SEBI/HO/MIRSD/
DoP/P/CIR/2022/119
1. SEBI had issued circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137 dated
October 06, 2022 on “Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for
transfer of securities towards deliveries / settlement obligations and pledging / re-
pledging of securities – Clarification”. The provisions of the same were to come
into effect from November 18, 2022.
2. SEBI had issued circular SEBI/HO/MIRSD/DoP/P/CIR/2022/119 dated September
19, 2022 on “Validation of Instructions for Pay-In of Securities from Client demat
account to Trading Member (TM) Pool Account against obligations received from
the Clearing Corporations”. The provisions of the same were to come into effect
from November 25, 2022.
3. In this regard, based on representation from depositories and further consultations,
it has been decided that:
3.1. the provisions of the circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137
dated October 06, 2022 shall come into effect on or before January 20, 2023.
3.2. the provisions of the circular SEBI/HO/MIRSD/DoP/P/CIR/2022/119 dated
September 19, 2022 shall come into effect from January 27, 2023.
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4. The provisions of the respective circulars stand modified to this extent.
5. Stock Exchanges and Depositories are directed to:
5.1. bring the provisions of this circular to the notice of their members / participants
and also disseminate the same on their websites;
5.2. make necessary amendments to the relevant Bye-laws, Rules and Regulations
for the implementation of the above decision.
5.3. communicate to SEBI, the status of the implementation of the provisions of this
circular within 7 working days after implementation and in their Monthly
Development Reports.
6. This circular is issued in exercise of powers conferred under Section 11(1) of the
Securities and Exchange Board of India Act, 1992, and Section 19 of the
Depositories Act, 1996 to protect the interests of investors in securities and to
promote the development of, and to regulate the securities markets.
Yours faithfully
Aradhana Verma
Deputy General Manager
Tel. No: 022 26449633
aradhanad@sebi.gov.in
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