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Committee
Functioning
Incorporated
Capital
G.S patelcommittee,
Abid
Hussaincommittee
.
October1990
September
1992
8 crore.
ESTABLISHMENT
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OTCEI was needed to solve the
problems of small investors and company
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Problems of company were:
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OTCEI
COUNTE
R
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Eliminati
on ofTrading
Ring
Executive
Trading
Computeri
edTrading
Nation!ideReac"
FEAT#RES $F $TCEI
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Individual%partner"ip&rm andcorporateentitie
Minimum net!ort" of R' (
la)"
Ade*uateo+ce paceand
telecommunication facilitie
Have to pa,
one time nonrefunda-le
admiion feeof R' . la)"
Annualu-cription
fee of R'(%///
T"e individual"ould -e at
leat agraduate
0H$ CAN BE 1EALERS
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2 u - l i c
F i n a n c i a l i n t i t u t i o n % S c " e d u l e d
- a n ) % M u t u a l f u n d % v e n t u r e c a p i t a l f u n d '
M i n i m u m n e t ! o r t "
R ' . ' ( c r o r e
M u t p a , a d m i i o n f e e o f R ' 3 / l a ) " a n d R ' ( l a ) " a f t e r o n e , e a r
A n n u a l S u - c r i p t i o n f e e i R 3 l a ) "
A c t a - r o ) e r ! " o - u , a n d e l l e c u r i t i e
4 u o t e p r i c e a n d p e r f o r m
v i t a l f u n c t i o n o f p o n o r " i p
H$ CAN BE MEMBERS
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Tradingfrom
ditantlocation
Tranparenc, in
1ealing
Ea,Acce
Appraial -,
ponor
4uic) Settlement
BENEFITS $F $TCEI
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2R$CE1#RE $F LISTIN5
T"e ponor determine t"e price of t"ecompan, "are o6ered to t"e pu-lic %
mem-er and dealer of t"e $TCEI
T"e ponor get all tatutor,conent and compliance !it" all
SEBI.
An $TCEI mem-er i appointed a a ponor oft"e compan,7 iue' He appraie t"e pro8ect9 compan, on tec"nical% managerial%commercial% economical and &nancial apect '
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T"e liting application "a to-e made to t"e $TCEI a per
it rule and regulation
After getting approved% t"eallotment i made.
T"e ponor regiter t"eiue !it" $TCEI and place
t"e e*uit,
Liting fee : initial liting fee of R' ;///and an annual fee of /'/(< of itu-cri-ed capital
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T"e compan, mut "ave a minimumiued e*uit, capital of 7 =/ la)"
Companie !it" an iued e*uit,capital >7 =/ la)" ? 7 =// La)"%t"e minimum pu-lic o6er "ould-e @/< of t"e iued capital
5$ERNMENT
5#I1ELINES F$RLISTIN5
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T"e companie !it" an iued e*uit,capital > 7 =// la)" !ill follo! t"e
liting re*uirement and guideline'
T"e companie engaged in inveting%leaing% &nance% "ire:purc"ae %
amuement par) etc are not eligi-lefor liting
A compan, !it" capital > 7 3/
crore !ill not -e eligi-le forliting.
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The company can o p!blic on the OTCe"chane by two methods
METH$1 $F
$FFER
2RIMAR ISS#E SEC$N1A
R ISS#E
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TR#$IN%
&EC'#NI(
&
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)#N*
Reistrar
Co!nter
#
Co!nter )
OTC CentralComp!ter
Telecom &obile
PTI Comp!ter
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At preent t"e ettlement procedure "a &veda, trading c,cle
S"ort ale and *uaring up "ave to -e done!it" in t"e trading c,cle and certi&cate to t"e
invetor mut -e delivered !it"in a fortnig"tfrom t"e date of purc"ae ' It avoid t"epeculation
For!ard trading i not allo!ed in $TCEI
T"i ettlement procedure are di6erent fort"e lited ecuritie and t"e permitted
ecuritie
SETTLEMENT
SSTEM
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