The 60 securities are Tata Power, Bhel, Nestle, MTNL, ICICI Banking Corporation, Escorts, LIC Housing Finance, Crompton Greaves, Chambal Fertilizers & Chemicals, ITC Bhadrachalam, Century Textiles, Kesoram Industries, Nocil, Bank of Baroda, Bata India, Essar Steel, Wartsila NSD, Bombay Dyeing, Tamil Nadu Newsprint & Papers, Container Corporation of India, Digital Equipment, Corporation Bank, GNFC, Spic, Cadbury, Pfizer, Hindustan Zinc, BEML, IOC, Bongaigaon Refinery & Petrochemicals, Andhra Valley Power Supply, EI Hotels, Colgate-Palmolive, Orchid Chemicals, GSFC, United Phosphorous, Punjab Tractors, IndusInd Bank, BPL, Dhampur Sugar Mills, Essar Oil, Oswal Agro Mills, ICI, Siemens, Gail, Tamilnadu Petroproducts, Wipro, Britannia Industries, VIP Industries, Tube Investments of India,Pentafour Software, Dena Bank, Dabur India, Ashok Leyland, Global Tele-Systems, GMDC, Bharat Electricals, IBP, ITI and HMT.

The regulator has also decided that the delivery of the underlying shares of the GDRs issued by all 110 companies (50 cleared earlier) should be compulsorily dematerialised. SEBI has also cut down on the time taken for the dematerialisation process.

Henceforth, custodians could indicate to the registrar while sending the securities for transfer that the securities should be dematerialised. Working guidelines for this will be issued shortly. In case where non pari passu shares of any of these companies are not admitted for dematerialisation the institutions would be allowed to deliver physical shares till the shares have become pari passu.

Overseas corporate bodies (OCBs) would also be included in the definition of institutions. The minimum holding of Rs 10 crore for institutions to be forced to trade in demat shares has been waived and all institutions would have to trade in dematshares with respect to these securities.

The working group has also recommended that exchanges which have carryforward trading should examine the feasibility of compulsory dematerialised delivery for vyaj badla shares at least for a select group of scrips. The BSE is considering adopting such a system.