https://www.taxtmi.com/circulars?id=61749 Exchanges may utilise the Settlement Guarantee Fund and other monies to meet members' settlement fund shortages before declaring them defaulters, subject to bye law amendment. Where shortages exceed thresholds relative to Base Minimum Capital or recur within specified periods, trading is withdrawn and securities pay outs withheld; on recovery members face reduced gross exposure for a set number of settlements. Exposure may be restored upon absence of further shortages or by depositing funds shortage collateral (cash, FDR, or bank guarantee) held for the specified period. Outstanding amounts attract penal interest of not less than 0.09% per day. en-us Fri, 09 Mar 2001 00:00:00 +0530 Sat, 13 Jul 2019 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61749 Exchanges may utilise the Settlement Guarantee Fund and other monies to meet members' settlement fund shortages before declaring them defaulters, subject to bye law amendment. Where shortages exceed thresholds relative to Base Minimum Capital or recur within specified periods, trading is withdrawn and securities pay outs withheld; on recovery members face reduced gross exposure for a set number of settlements. Exposure may be restored upon absence of further shortages or by depositing funds shortage collateral (cash, FDR, or bank guarantee) held for the specified period. Outstanding amounts attract penal interest of not less than 0.09% per day. Circulars SEBI Fri, 09 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61749