Annexure B

(Letter from Third Party - To be attached to the Bank Guarantee)

Date :

Bombay Stock Exchange Ltd.

P.J. Towers
Dalal Street
Mumbai- 400001

I, Mr./Ms./M/s. ____________________________ an individual / a sole proprietary

concern / a partnership firm/a body corporate, residing at / having registered office at
_______________ am a client / sub-broker of the member <..name of member..>
having clearing no. _______ of Bombay Stock Exchange Ltd.i. I have obtained a
bank guarantee no.______ dated <..date..> from ,<name of the bank>, commencing
on …………and expiring on <..date..> with a claim period of __ months, for an
amount of Rs.______ (Rupees …………………………only) to cover the
engagements/commitments/operations/obligations/liabilities of the above member
arising out of the Clearing & Settlement of the trades executed on BSE.

I hereby declare and confirm that I have fully understood the terms and conditions
stated in the aforesaid bank guarantee and more particularly, that the aforesaid bank
guarantee may be invoked by BSE at any time on account of the
engagements/commitments/operations/obligations/liabilities of the aforesaid member
on BSE, even though the same may not have arisen on my/our account.

Yours faithfully,

Signature of Third Party

<Name of Third Party>

Encl. : Bank guarantee as stated above