Delay in Pay-in/Pay-out on December 20, 2007
December 20th, 2007
t has been rumoured in the market that the Pay-in on December 20, 2007 was delayed mainly on account of system-related problems at CDSL.
At the outset, we would like to clarify that there are no problems at CDSL, including system-related problems which caused delay in inter-depository transactions and in turn, in pay-in and pay-out on December 20, 2007.
The interruptions in inter-depository transfers started on December 19, 2007 after 12:30 p.m. The matter was immediately taken up for resolution but the same could not be resolved and as a result the inter-depository transactions continued till 7:30 a.m. on December 20, 2007 - which in the normal course, would have been completed by 9:00 p.m. on December 19, 2007.
Consequently, the End Of Day (EOD) process was started at 7:45 a.m. today i.e. December 20, 2007 and got over around 1:00 p.m. The system was released to the Depository Participants immediately thereafter.
This press release is being issued to put the facts in the right perspective for the information of the market participants and investing public at large.
Dominic Fernandes
Vice President – Operations
Contact : Mr.Sunil Alvares
+91 9820298290
Entry Filed under: Equity Markets
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