Usage of Electronic Payment Modes for making payments to Investors.
We would like to inform you that SEBI vide its circular No CIR/MRD/DP/10/2013 dated21st March, 2013 directed that in view of the advancements in the field of electronicpayment system viz. NEFT, RTGS etc. for making cash payments to the investors, Companieswhose securities are listed in the Stock Exchanges shall use RBI approved electronic modeof payment. The said circular also provides that in cases where either the bank detailssuch as MICR, IFSC code etc. are not available or the electronic payment instructions havefailed or have been rejected by the bank, Companies may use the physical paymentinstrument for making cash payments to the investors and Companies shall mandatorily printthe bank account details of the investors on such payment instruments.
In view of the above and to comply with the SEBI directions, in case, if you have notprovided the relevant details, we request you to kindly fill the enclosed form and sendthe same to us on or before 31st July 2013 to update mandate details in the system forfuture payments to you.
For this purpose we have also enclosed self address and pre-stamped cover.
Thanking you,
Yours faithfully
For Welcast Steels Limited.,
P.Rajendra Kumar
Compliance officer
