Uniform good/bad delivery norms require exchanges to set up bad delivery cells and follow rectification, auction or close out procedures. SEBI mandates uniform good/bad delivery norms, requiring stock exchanges to adopt Annexure A, establish Bad Delivery Cells, and ensure insurance cover. The first introducing broker must rectify defects within prescribed timelines or face exchange auction or close out with debits for consequential amounts. Inter exchange cases require seven day forwarding between BDCs and subsequent rectification or auction/close out. Custodians must follow the norms and participate in clearing house settlement. The circular prescribes implementation dates, transitional rules for pending objections, and a specified validity period for company objections measured from buyer payment, with Annexure A detailing numerous transfer deed and certificate examples.
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Uniform good/bad delivery norms require exchanges to set up bad delivery cells and follow rectification, auction or close out procedures.
SEBI mandates uniform good/bad delivery norms, requiring stock exchanges to adopt Annexure A, establish Bad Delivery Cells, and ensure insurance cover. The first introducing broker must rectify defects within prescribed timelines or face exchange auction or close out with debits for consequential amounts. Inter exchange cases require seven day forwarding between BDCs and subsequent rectification or auction/close out. Custodians must follow the norms and participate in clearing house settlement. The circular prescribes implementation dates, transitional rules for pending objections, and a specified validity period for company objections measured from buyer payment, with Annexure A detailing numerous transfer deed and certificate examples.
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