Modification to Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to default

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.... Procedure in the cases of Trading Member / Clearing Member leading to default 1. SEBI vide circular no. SEBI/HO/MIRSD/DPIEA/CIR/P/2020/115 dated July 1, 2020 had specified the Standard Operating Procedure enumerating the steps to be taken by the Stock Exchanges ("SEs"), Clearing Corporations ("CCs") and Depositories in cases where SE / CC is of the view that Trading Member / Clearing Member is l....

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....he unencumbered deposits available with the SEs/ CCs, after adjusting for any dues of the SE / CC and maintaining the minimum BMC, shall also be utilised for settling the credit balance of investors starting from the smallest amount. Such amount shall be paid in full to all such investors having credit balance up to the amount of Rs. 25,00,000/- (Rupees twenty five lakh), subject to availability o....

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....emnity to the SEs to make available the funds to meet any shortfall in meeting investor's claim (other than those who have withdrawn their claim). Clients withdrawing their claim will have to submit unconditional withdrawal letter to the SEs. Within 30 trading days from crystallization of balances 3. All other provisions specified in SEBI circular dated July 1, 2020 shall continue to remain appl....