Administration Manual - B.E.S.T. Undertaking.

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In case of investment in Public Securities, BEST can hold the delivery
by three modes i.e. 1) Physical Delivery, 2) Subsidiary General Ledger
Account and (3) Demat form.
1) Physical Delivery:-
In this type, Bonds/Securities are held by the Investor physically,
which are issued / transferred in favour of the Purchaser / Buyer.
Any interest due and redemption proceeds are forwarded by the
company to Registered Bond Holders.
2) Subsidiary General Ledger Account (SGL A/c):-
Organization dealing in buying/selling of Public Securities /
Treasury can open SGL A/c. with Bank approved by RBI. In case
of having SGL A/c., investor can opt for delivery mode as SGL
instead physical, if the seller is having SGL A/c. and Securities is
in SGL format and any interest due put/call option / redemption
proceeds are directly credited to the Bank A/c. with whom SGL
A/c. is maintained by the investors.
3) Demat Form:
Nowadays Securities are treated in dematerialized form. In this
form there is no physical delivery of bonds/securities but
organization dealing in buying/selling of securities has to open
Demat A/c. With Depository participant (D.P.’s such as HDFC
Bank, Stockholding Corporation, Bank of India, etc.) Undertaking
has opened its Demat with HDFC Bank, HDFC Bank gives us
monthly transaction/stock holding statement, which shows the
number of securities held in Demat form. In case of purchase of
bonds, we check the receipt of delivery of bonds through assessing
internet and in case of sale of securities, a delivery challan has to
be filled up and duly signed by two authorized signatories and
deliver the same to our Depository Participant (i.e. HDFC Bank).
3.A-12.6 Generation of Electricity Fund:
A separate fund called as Generation of Electricity Fund was created
vide BCR No.348 dt. 17.8.95 and by Corporation vide C.R.No.599 dtd.
21.9.95.
This fund has been created in term of Section 460 II of the MMC Act
1888, with approval of Brihan Mumbai