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of <h1>SEBI Imposes 3% Penalty for Repeated Delivery Defaults in Commodity Derivatives; Effective in One Month from Issue Date.</h1> The Securities and Exchange Board of India (SEBI) has introduced a penalty mechanism for repeated delivery defaults in the commodity derivatives segment. If a seller or buyer defaults on delivery obligations three or more times within a six-month period, an additional penalty of 3% of the default value will be imposed for each instance. This penalty will be transferred to the Settlement Guarantee Fund of the Clearing Corporation. The circular, aimed at enhancing market integrity and delivery mechanisms, will take effect one month from its issuance date and is issued under the authority of the SEBI Act and the Securities Contracts (Regulation) Act.
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