TaxTMI 
TaxTMI 
Framework for utilization of Financial Security Deposit (FSD) available with Clearing Corporations and WDRA
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....ing Corporations having Commodity Derivatives Segment Dear Sir / Madam, Sub: Framework for utilization of Financial Security Deposit (FSD) available with Clearing Corporations and WDRA 1. SEBI vide its circular SEBI/HO/CDMRD/DMP/CIR/P/2016/103 dated September 27, 2016 had inter alia specified the norms requiring Financial Security Deposit (FSD) to be furnished by Warehouse Service Provide....
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....o the following norms for utilization of security deposit: i. The Clearing Corporations shall immediately after accreditation, provide the details of WDRA registered warehouses accredited by them with full details of warehouseman registration, warehouse registration, WSP, address etc. to WDRA. WDRA will in turn, share the details of security deposit received from these accredited warehous....
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....The accredited WSP shall be liable for any losses resulting from any action or inaction on its part or on the part of its warehouses that prevents the buyer or seller from exercising, in whole or in part, their rights. The Clearing Corporation shall compensate the aggrieved clients for any such losses that have been appropriately established by debiting the FSD of WSP held with the Clearing Corpor....
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....discrepancy noted / claim received by any agency (Clearing Corporation or WDRA) shall be brought to the notice of other agency irrespective of invoking the security deposit. 3. The circular shall be effective from 30 days from the date of this circular. 4. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to ....