Wednesday, December 29 2004 20:59 Hrs (IST) - World Time -

Mumbai: A technical snag in the inter-depository mechanism has hit the pay-out (settlement) schedule for the stock market transactions executed on December 27.

Exchanges have been asked to allow the pay-in tomorrow (December 30) till 12 noon. Consequently, the payout would be delayed, SEBI (Securities and Exchange Board of India) said in a release in Mumbai today (Dec 29, 2004). The market regulator had called a meeting of depositories and stock exchanges to ensure that there was no disruption of the settlement process, it said.

The depositories and stock exchanges have assured SEBI that the payout would be completed today and take every measure to resolve the technical snag, it added.