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Securities and Exchange Board of India (SEBI) vide Circular No. SEBI/HO/MIRSD/DoP/P/CIR/2022/91 dated June 30, 2022 issued “: Implementation of Circular on ‘Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries or settlement obligations and pledging or re-pledging of securities’ – Extension”SEBI vide circular no. SEBI/HO/MIRSD/DoP/P/CIR/2022/44 dated April 04, 2022 issued guidelines regarding execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries/settlement obligations and pledging re-pledging of securities.

The provisions of this circular were to come into effect from July 01, 2022. In view of the representation received from Depositories and that the changes to the systems are still under process, it has been decided to extend the implementation date of the aforesaid circular to September 01, 2022. Stock Exchanges and Depositories are directed to bring the provisions of this circular to the notice of their members/participants and also disseminate the same on their websites.

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For further information, please contact:

Vineet Aneja – Clasis Law,
vineet.aneja@clasislaw.com

Vineet heads Clasis Law and shares his time between the Delhi and Mumbai offices. He has extensive experience working with both Indian and foreign companies, as well as with government authorities.

Vineet’s corporate practice includes advising on mergers and acquisitions, joint ventures, private equity and investment funds on a full range of corporate clients on general corporate matters and in the areas of capital markets, project finance, regulatory and real estate.

Vineet’s skill set includes a deep transactional understanding as well as significant industry expertise across industries as diverse as manufacturing, media, medical devices, fashion, insurance, technology, telecommunications, infrastructure, hospitality, retail and financial services. Client feedback has highlighted the value his experience adds to both the legal and commercial sides of transactions.

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