Modification to Standard Operating Procedure in the cases of Trading Member / Clearing Member leading to default
SEBI vide circular no. SEBI/HO/MIRSD/DPIEA/CIR/P/2020/115 dated July 1, 2020 had specified the Standard Operating Procedure for the steps to be taken by the Stock Exchanges (“SEs”), Clearing Corporations (“CCs”) and Depositories in cases where Trading Member / Clearing Member is likely to default in repayment of funds or securities to its clients.
Aa monetary limit of Rs. 25 lakhs has been prescribed for settling the credit balance of investors out of the unencumbered deposits available with the SEs/ CCs, after adjusting for any dues of the SE / CC and maintaining the minimum BMC, starting from the smallest amount.
The investors having credit balance of more than Rs. 25,00,000/- (Rupees twenty five lakh) shall be paid on pro-rata basis from the remaining funds
Download SEBI Circular No. SEBI/HO/MIRSD/DPIEA/P/CIR/2022/72 Click Here >>
- UCO Bank Concurrent Auditor Online Empanelment for FY 2025-26
- Section 87A rebate available for short-term capital gains – ITAT
- Homebuyer entitled to possession if their name included in list of financial creditors
- GSTN Advisory to file pending returns before expiry of three years on 01.10.2025
- Insurance premium paid for partner of the firm held as allowable expenditure
