i]  Average daily turnover of less than Rs.2 lakhs calculated for previous two quarters
   And

   ii] The Security is classified as illiquid at all Exchanges where it is traded

b ) Of the Securities identified as per above criteria , Securities which satisfy any of the following conditions shall be excluded :

   i]  Securities with average market capitalization more than Rs.10Cr.

   ii] Securities where company is paying dividend in at least two out of last three years.

   iii] Securities where company is profitable in at least 2 out of last 3 years, and not more than 20% of promoters shareholding is pledged in the latest quarter and book value is 3 times or more than the face value.

Trading members are advised to exercise additional due diligence while trading in these securities either on own account or on behalf of their clients.

Trading Members are requested to note the penalty criteria for certain trades:

In the event where maximum of buy price entered by a client (on PAN basis) is equal to or higher than the minimum sell price entered by that client and if the same results into trades, a penalty shall be imposed on such trades. The penalty shall be calculated and charged by the exchange and collected from trading members on a daily basis. Trading members may recover such penalty from clients. The penalty so collected shall be deposited to Investor Protection Fund.

Penalty for each such instance per session will be higher of the following:

• 0.50% of the trade value for sale and 0.50% of trade value for the buy, resulting in 1% penalty for the client on PAN basis.
• 2500 /- for the buy trade and 2500 /- for the sell trade, resulting in penalty of 5000/- for the client on PAN Basis