SEBI abolishes no-delivery period for all types of corporate actions

SEBI vide its Circular MRD/DoP/SE/Cir-07/2009 dated July 21, 2009 has abolished ‘no-delivery period’ for all types of corporate actions in respect of the scrips which are traded in the compulsory dematerialized mode. Accordingly, short deliveries, if any, of the shares traded on cum-basis should be directly closed out. In case of such direct close-out, the mark-up price would be as stated in SEBI Circular no. SMD/POLICY/Cir-08/2002 dated April 16, 2002. 

A copy of the Circular is available here.