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 >>
- Cost of Acquisition as on 1.4.2001 for properties purchased prior to 2001- Clarification
- Advisory for FORM GSTR-1A for furnishing details of outward supplies
- No Penalty u/s 271E on cash repayment of advances treated unexplained cash credits
- Mining Royalty is not a tax – Supreme Court Nine Judges Bench approves decision in Kesoram
- Assessee has right to get complete statements recorded against him – High Court