Press Statement: Date: October 10th, 2012

After the entry of an erroneous sale order on the National Stock Exchange on October 5, 2012, when executing a basket sale of the Nifty-50 stocks, the NSE had disabled our trading facility in Cash and Derivatives Segment pending review of the trades in question.
After a review of the facts and events surrounding the bona fide error that led to the placement of an erroneous sale order, the NSE has now reinstated our trading facility both on Cash , Derivatives and currency segments. We have resumed providing services to our clients on the NSE today consistent with past practice, putting behind us the accidental occurrences of October 5, 2012.
We have now subjected all our trading and risk management systems to a further rigorous examination and have taken various steps to avert any such manifest error in future. We are well capitalized and continue to conduct our business for both institutional and retail clients. We continue to work with the NSE and the regulators to resolve issues arising out of the bona fide human error. We are thankful to all our stakeholders including our clients, employees, shareholders, vendors, and very importantly, the Regulators , the Exchanges and the entire stock broking community, which stood by us in trying circumstances.

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