https://www.taxtmi.com/circulars?id=60660 Where a trading member's settlement shortage exceeds the base minimum capital or where shortages exceed 20% of BMC on six occasions within three months, trading is to be suspended and securities pay-out withheld. After full recovery, the member may trade at a reduced gross exposure according to cumulative shortage bands; the reduced level must be maintained for ten rolling settlements and is restored if shortages over the subsequent ten rolling settlements stay below 20% of BMC. Immediate restoration is allowed upon deposit of equivalent funds-shortage collateral retained for ten rolling settlements, with no interest or exposure benefit; collateral forms accepted include cash, fixed deposit receipts and bank guarantees. Penal interest on outstanding amounts is set at not less than 0.07% per day. Exchanges must amend rules, notify members and report implementation. en-us Thu, 05 Jun 2003 00:00:00 +0530 Wed, 01 May 2019 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=60660 Where a trading member's settlement shortage exceeds the base minimum capital or where shortages exceed 20% of BMC on six occasions within three months, trading is to be suspended and securities pay-out withheld. After full recovery, the member may trade at a reduced gross exposure according to cumulative shortage bands; the reduced level must be maintained for ten rolling settlements and is restored if shortages over the subsequent ten rolling settlements stay below 20% of BMC. Immediate restoration is allowed upon deposit of equivalent funds-shortage collateral retained for ten rolling settlements, with no interest or exposure benefit; collateral forms accepted include cash, fixed deposit receipts and bank guarantees. Penal interest on outstanding amounts is set at not less than 0.07% per day. Exchanges must amend rules, notify members and report implementation. Circulars SEBI Thu, 05 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=60660