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        SEBI

        Regulation 19 - Withdrawal of gold

        Securities and Exchange Board of India (Vault Managers) Regulations, 2021
        Chapter IV
        ELECTRONIC GOLD RECEIPTS

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        Withdrawal of gold requires depository approval; vault manager must release gold, extinguish electronic receipts, and justify refusals. A beneficial owner must request withdrawal from the depository; after payment of charges the depository approves and informs the Vault Manager. The Vault Manager must hand over the gold and extinguish the Electronic Gold Receipt(s) upon production of acknowledgement and specified documents, then intimate extinguishment to the depository. If the Vault Manager refuses or fails to deliver, the burden of proof to show a lawful excuse lies on the Vault Manager.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Withdrawal of gold requires depository approval; vault manager must release gold, extinguish electronic receipts, and justify refusals.

                                A beneficial owner must request withdrawal from the depository; after payment of charges the depository approves and informs the Vault Manager. The Vault Manager must hand over the gold and extinguish the Electronic Gold Receipt(s) upon production of acknowledgement and specified documents, then intimate extinguishment to the depository. If the Vault Manager refuses or fails to deliver, the burden of proof to show a lawful excuse lies on the Vault Manager.


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