ln exercise of the powers conferred by clause p of subsection 2 of section 35 of the Warehousing

EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY (1) (2) No. 537] NEW DELHI, TUES DAY, AUGUST 1, 202 3/SHRAVANA 10, 194 5 CG-DL-E-03082023-247811 WAREHOUSING DEVELOPMENT AND REGULATORY AUTHORITY (Department of Food and Public Distribu tion) NOTIFIC ATION New Delhi, the 27th July, 2023 F.No. T -21032/1/2020 -NIC.—ln exercise of the powers conferred by clause (p) of sub -section (2) of section 35 of the Warehousing (Development and R egulation) Act, 2007(37 of 2007) read with sub - rule (1A) of rule 4 and clause (a) of rule 25 of the Warehousing (Development and Regulation) Registration of Warehouses Rules 2017, the Warehousing Developm ent and Regulatory Authority hereby determines that the agricultural commodities specified in the Table below shall be stored in a registered warehouse, namely : — TABLE S.No. Name of the Commodity (1) (2) 1. Solvent extracted groundnut oil cake 2. Cane Molasses 3. Honey 2. The commodities spe cified in said Table shall comply with the qualitative specifications or sta ndards of the AGMARK or Bureau of Indian Standards or Food Safety and Standards Authority of India: Provided that in case, standards of AGMARK or Bureau of Indian Standards or Food Safety and Standards Authority of India do not exist f or these commodities, qu ality standards laid down by the Central Government or State Governments or Governmental bodies s hall be applicable. 3. For the commodities requiring chemical or allied laboratory analysis, all AGMARK laboratories, all accred ited laboratories notified by the National Accreditation Board for Testing and Calibration Laboratories and laboratories recognised by the Bureau of Indian Standards and Food Safety and Standards Authority of India are authorised for laboratory testing. 4. In addition, the Central Gov ernment or the State Government laboratories and other laboratories recognised by them may conduct testing of the said commodities JEETESH SHARMA, Director (Admin & Finance) [ADVT. -III/4/Ex ty./31 9/2023-24] 5. हम ............................... ............................... ..............................(बैंक का िाम) आगे इसक े जल ए भी सहमत तारीख ...... ......... मा ह .............. 20... 6. यह क्षजतपूर्तव बंधपत्र......... .................... ददि ...... ....................... माह .................................ििव तक 1. 2. NOTIFICATION New Delhi, the 27th July, 2023 No. W DRA -Tech0Ops (WH)/2/2021 -Technical .—In exercise of the p owers conferred by clause (h) of sub - section (2) of section 35 of the Warehousing (Development and Regulation) Act, 2007 (37 of 2007) read with rule 19 of the Warehousing (Development and Regulatio n) Registrat ion of Warehouses Rules, 2017, the Warehousing Development and Regulatory Authority (hereinafter referred as the Authority), hereby notifies the following procedur e for requirement of security deposit for registration of warehouses storing non -agricultural commodities and combined warehouse storing bot h non - agricultural and agricultural commodities with the Authority namely: — 1. The applicant warehouse or War ehouse Service Provider (WSP) seeking registration of their warehouse with the Authorit y shall subm it a security deposit to the Authority before i ssue of a registration certificate. The security deposit shall be required to be submitted within twenty -one w orking days after issue of a communication by the Authority to this effect. 2. If the a pplicant fai ls to submit the security deposit within the pe riod specified as above, the application shall be deemed to have been rejected; Provided that the Authority ma y, if it is satisfied that the applicant was prevented by sufficient cause from submitt ing the secu rity deposit within the said period of twenty -one working days, allow them to submit the security deposit within such extended time as may be decided by the Author ity. 3. If the applicant submits the security deposit in the form and manner spec ified below, the Authority shall issue a certificate of reg istration to the applicant in respect of the warehouse within five working days in the form specified in the F ourth Schedule of the Warehousing (Development and Regulation) Registration of Warehous es Rules, 20 17. 4. Details of the amount and manner of secu rity deposit to be furnished by the applicant or the warehouseman are given as under: (i) The warehouseman sha ll mai ntain a security deposit to be held by the Authority during period of registratio n. The secur ity deposit has two components, i.e. fixed and dynamic security deposit. The fixed security deposit amount is per warehouse belonging to the warehouseman reg istere d with Warehousing Development & Regulatory Authority, whereas, the dynamic secur ity deposit is a percentage of the maximum value of negotia ble and non -negotiable warehouse receipts (whether in electronic or physical form) put together outstanding co nsolid atively in all the registered warehouses of the warehouseman on any day during th e preceding month, (a) For warehouseman, storing only non - agricultural commodities the fixed security deposit is Rs. 1,00,000/ - per warehouse (as detailed in the column A bel ow for registration of warehouses), whereas, the dynamic Security Deposit is 0.3% (zero point three percent) of the maximum value of negotia ble and non -negotiable warehouse receipts (whether in electronic or physical form put together) outstanding co nsolid atively in all the registered warehouses of the warehouseman on any day during th e preceding month, referred as ‘T’, as mentioned in column B of Table 1 below. TABLE 1 S. No. Fixed Security Deposit (Rs.) / per warehouse unit (FSD) Dynamic Security Deposi t (% of T) (DSD) A B 1 Rs. 1 Lakh per warehouse 0.3% of T Where ‘T’ refers to the consoli dated peak value of negotiable and non -negotia ble warehouse receipts issued by a registered warehouse of the warehouseman on any day during the preceding month. (b) For warehouseman, storing both non - agricultural and agricultural commodities t he fixed sec urity deposit is Rs. 1,00,000/ - per warehouse, whereas, the dynamic security deposit shall be the sum of the applicable Dynamic Security Deposit on stored agricult ural commodities, and the Dynamic Security Deposit appl icable on the stored non - agricultural commodities as per Table 2 below. TABLE 2 S. No. Fixed Security Deposit (Rs.) / per warehouse unit (FSD) Dynamic Security Deposit in respect of non - agricultural commodities (% of T1) (DSD) Dynamic Security Deposit in respect of agricultural commodities ( % of T2) (DSD) Total requirement of DSD A B C D 1 Rs. One Lakh per warehouse 0.3% of T1 Same rate as applicable to agricultural warehouses of capacity more than 2000 Metric Tonnes B + C T1 will be the maximum value of negotiable and non -negotiable wa rehouse receipts of non - agricultural commo dities, outstanding consolidatively, in all the registered warehouses of the warehouseman on any day during the precedin g month, irrespective of the capacity of the warehouse. T2 will be the maximum v alue of nego tiable and non -negotiable warehouse receipts of agricultural commodities, outstanding consolidatively, in all the registered warehouses of the warehouseman on a ny day during the preceding month, irrespective of the capacity of the warehouse. (ii) The fi xed security deposit shal l be maintained fo r a period of six months beyond the registration period whereas the dynamic security deposit shall be updated at the end of each month and submitted to the Authority which shall be duly acknowledged. T he validity of dynamic security depos it can be kept for a period of minimum six months so as to take care of any changes in the requirement of security deposit during this per iod; (iii) The Authority may, at its discretion, adjust the security deposit alre ady furnishe d by the warehouseman aga inst the amount re quired to be furnished; (iv) The security deposit shall be in the form of Bank Fixed Deposits or in form of Bank Guarant ee, favouring Warehousing Development & Regulatory Authority as per the format gi ven in First Schedule for a period of six months beyond the expiry of registration; (v) The Authority may allow any entity created under an Act of Parliament or of State legis lature to provide, an Indemnity Bond for the amount required as security deposit, as per form at given in the Second Sc hedule; (vi) An en tity allowed by the Authority to submit an Indemnity Bond shall submit, along with application for registration, a resol ution from the Board of Directors authorising to furnish such Indemnity Bond; (vii) The secur ity deposit shall not be released until six months after expiry, cancellation or surrender of the registration of the warehouse or until after satisfaction of ever y claim against the security deposit, whichever is later; (viii) The Authority sh all refund t he security deposit in re spect of a warehou se, if – (a) an application for renewal of registration of the warehouse has been rejected and if the Authority is satisf ied that the warehouseman has discharged his obligations as per the requirements of the rules ; (b) a warehouseman surrenders the certifi cate of registration and the Authority accepts such surrender; or (c) the certificate of registration of a warehouse is cancelled and the Authority is satisfied that the warehouseman has discharged his obligations as per the requirements of the rules. (ix) Notwithstanding such revision of the security deposit as specified at (i) and (ii) above, if any, the warehouseman shall not increase the charges payable by the depositors within the period of validit y of negotia ble ware house receipts issued to them. FIRST SCHEDULE (Format for Bank Guarantee for Security Deposit Payment to be submitted by Warehouseman) Director (Administr ation and Finance) Warehousing Development and Regulatory Authority (WDRA) NCUI Building (4th Floor), 3, Siri Institutional Area, Augu st KrantiMarg, HauzKhas, New Delhi – 110016 (With due stamp duty as applicable) OUR LETTER OF GUARANTEE No. : 1. In cons ideration of Wareho using Development and Regulatory Authority, having its office at NCUI Buil ding (4th Floor), 3, Siri Institutional A rea, August KrantiMarg, HauzKhas, Delhi – 110016 (INDIA) (hereinafter referred to as “WDRA” which expression shall unless repugnant to the co ntent or meaning thereof include all its successors, administ rators and ex ecutors) and having considered granting/ granted registration of the warehouse (s), namely, ___________________or as per list annexed with this schedule (duly endo rsed by the Bank) b elonging to M/s ________________(hereinafter referred to as “ The Warehouse man” which expression unless repugnant to the content or meaning thereof, shall include all the successors, administrators, and executors). 2.WHEREAS the Warehouse man having unequivo cally accepted to conduct business of warehousing as per term s and conditi ons given in the Warehousing (Development and Regulation) Registration of Warehouses Rules, 2017 (hereinafter referred as the Rules) and having agreed to furnish t o WDRA a security d eposit in the form of a Bank Guarantee for Rs......... (Rupee s............ .... only) for the faithful performance o f the entire registration with the WDRA, we.......................................................................... (her einafter referred t o as "the Bank") at the request of the warehouseman do hereby undertake to pay to the WDRA an amount not exceeding Rs …… against any loss or damage caused to or suffered by the holder of the negotiable warehouse receipt due to breach by the warehouseman of any of the terms and conditions contained in the Rules and t he notificati on No….. dated ……on “Requirement of Secur ity Deposit for registration of warehouses storing non -agricultural commodities as well as combined warehouse storing both non-agricultural and agricultural commodities (hereinafter referred as the noti fication). 3. We.................................... .................... (Name of the Bank) do hereby undertake to pay the amount due and payable under this guarantee without a ny demur merely o n a demand from the WDRA stating that the amount claimed is due by way of lo ss or damage caused to or suffered by t he holder of the negotiable warehouse receipt due to breach by the warehouseman of any of the terms and conditions contained in the rules and the notification. Any such demand made on the Bank shall be co nclusive as r egards the amount due and payable by th e Bank under this guarantee. However, our liability under this guarantee shall be restricted to an amount not exceeding Rs.. ....... 4. We und ertake to pay to the WDRA any money so demanded notwithstanding any dispute or disputes raised by the warehouseman in any suit or proceeding pending before any court or Tribunal relating thereto, our liability under this present being abso lute and unequivo cal. The payment so made by us under this bond shall be a valid discharge of our liability for payment thereunder a nd the warehouseman shall have no claim against us for making such payment. 5. We........................... (Name of the Ba nk) further agree that the WDRA shall have the fullest liberty without our conse nt and withou t affecting in any manner our obligatio ns hereunder to vary any of the terms and conditions of the said Agreement or to extend time of performance by the warehouse man from time to time or to postpone for any time or from time to time any of th e powers exer cisable by the WDRA against the warehou seman and to forbear or enforce any of the terms and conditions relating to the said Agreement and we shall not be relieved from our liabilit y under terms and conditions relating to the said Agreement and we shall not be relieved from our liability by reas on of any such variation, or extension being granted to the warehouseman or for any forbearance, act or omission on the part of the WDRA or a ny indulgence by the WDRA to the warehouseman or by any such ma tter or thing whatsoever which under the law relatin g to sureties would, but for this provision, have effect of so relieving us. 6. This guarantee will not be discharged due to the change in th e constitution of the Bank or the warehouseman 7. We,......... ............. .... (Name of the Bank) lastly undertak e not to revoke this guarantee except with the previous consent of the WDRA in writing. 8. Notwithstanding anything contain ed herein : - i) Our liability under this Bank Guarantee shall not exceed ....... .. (Rupees .. ...... only) ii) This Bank Guarantee sh all be valid upto............................................ and iii) We are liable to pay the guaranteed amount or any par t thereof under this Bank Guarantee only and only if the WDRA serve upon us a wr itten claim o r demand on or before...... .......... ( Date of expiry of guarantee) Dated the............................ day of..... 202 Name of Authorized Signatory/ Manager F or (Name of the Bank ) Branch Seal of the bank Second Schedule INDEMNITY BOND This indemnity i s executed by deed on the day of_____ 20_ by ___ (an entity created under the Act of the Parliament or of the State Legislature) hereinafter called “ENTITY” in fa vour of the Warehousing Development and Regulatory Authority (WDRA) hereinafter called “AUTHOR ITY” WHEREAS: (a) The War ehousing Dev elopment and Regulatory Authority (hereinafter referred as Authority) is established under the Warehousing (Development and R egulation) Act, 2007 (Act, 2007) with the objective to regulate and ensure imple mentation of t he provisions of Act, 200 7 for develo pment of warehouses, regulations of negotiability of Warehouse Receipts and promote orderly growth of warehousing business. E very person desirous of commencing or carrying business of maintaining a warehou se issuing neg otiable warehouse receipt s is require d to be registered and for that purpose an application has to be made to the Authority under the said Act. (b) Every applican t warehouse/Warehouse Service Provider (WSP) seeking registration of their wareh ouse shall be required to submit security deposit to the Authority within twenty -one days of the communication by the Authority. (c) The value of security deposit in the form o f bank guarantee in favour of Warehousi ng Development and Regulatory Authority t o be deposited by warehouseman having warehouses storing non - agricultural commodities and to be maintained during the period of registration and to be updated at the end of ea ch month is as follows: — S. No. Fixed Security Deposit (Rs.) / per warehouse uni t (FSD) Dynami c Security Deposit (% of T) (DSD) A B 1 Rs. 1 Lakh per warehouse 0.3% of T Where ‘T’ refers to the consolidated peak value of negotiable and non -negotiable wa rehouse receipts issued by a registered warehouse of the warehouseman on any day during the pr eceding month. (d) The value of security deposit (in the form of bank guarantee in favour of Warehousing Development and Regulat ory Authority) to be deposited by warehouseman having warehouses storing both non - agricultural and agricultural commodities an d to be maintained during the per iod of registration and to be updated at the end of each month is as follows: — TABLE 2 S. No. Fixed Security Deposit (Rs.) / per warehouse unit (FSD) Dynamic Security Deposit in respect of non -agri commoditie s (% of T1) (DSD) Dynamic Security Deposit in r espect of agri commodities (% of T2) (DSD) Total requirement of DSD A B C D 1 Rs. 1 Lakh per warehouse 0.3% of T1 Same rate as applicable to agricultural warehouses of capacity more than 2000 MTs B + C Where ‘T1’ will be the maximum value of negotia ble and non-negotiable warehouse receipts of non -agricultural commodities, outstanding consolidatively, in all the registered ware houses of the warehouseman on any day during the preceding month, irrespective o f the capacity of the warehouse. Where ‘T2’ wi ll be th e maximum value of negotiable and non -negotiable warehouse receipts of agricultural commodities, outstanding consolidative ly, in all the registered warehouses of the warehouseman on any day during the p receding month , irrespective of the capacity o f the wa rehouse. (e) The Authority may at its discretion, adjust the security deposit already furnished by warehouseman against th e amount required as security deposit. The security deposit shall not be release d until six mo nths after cancellation, rejecti on or su rrender of the registration of the warehouse or until after satisfaction of every claim against security deposit whichever is later. The Authority reserves its rights to revise the amount of security de posit. (f) As the Authority may allow any enti ty creat ed under an Act of the Parliament or State Legislative and carrying business of maintaining warehouse (s) and issuing nego tiable warehouse receipt, to submit Indemnity Bond in lieu of security deposit a nd the entity allowed by the Authority to subm it an In demnity Bond shall submit, along with application for registration, a resolution from Board of Directors authorising the f urnishing of such Indemnity Bond. NOW therefore M/s …………………………..(name of the ent ity) establish ed under ……………………………… Act, agree s and un dertakes at all times to save, defend, and indemnify and keep indemnified the Authority from and against all actions, suit s, proceedings, accounts, claims and demands whatsoever for an amount of Rs………(R upees………….only ) (as detailed at Annexure) to t he exten t of limits to be worked out as per Paragraph ‘c’ and ‘d’ above and as per the conditions of this indemnity bond noted bel ow: - 1) M/s ………………………………..(name of the entity) shall comply with all the obliga tions to be pe rformed on their part under the rules an d regulations. 2) M/s ………………………………..(name of the entity) undertakes to keep the Authority indemnified for an amount to be worked out as per the Table in Paragraph ‘c’ and ‘d’ above until six months, aft er cancellatio n, rejection or surrender of reg istratio n or until after satisfaction of every claim whichever is later. 3) M/s ………………………………..(name of the entity) shall be discha rged of its obligation under Indemnity Bond in respect of a warehouse, if: — a) An application for renewal of registration of the war ehouse has been rejected and if the Authority is satisfied that the warehouseman has discharged his obligations as per the requirements of the rules; b) A warehouseman surrenders his certificate of regi stration, and the Authority accepts such surre nder; or c) The certificate of registration of a warehouse is cancelled, and the Authority is satisfied that the warehouseman has discharged his obligations as pe r the requirements of the rules. 4) M/s. ……………… ………………..(name of the entity) undertakes not to increase the charges payable by depositors within the period of negotiable warehouse receipts issued to them. 5) M/s. …………………………… …..(name of the entity) hereby agrees that in case any losses/damages if suffere d by the Autho rity, the same shall be indemnif ied by M/s. ………………………………..(name of the entity). 6) This Indemnity Bond shall have validity till _______day of _ _______(month)_____ ____20_……. In witness whereof signed this Indemnity Bond is executed on this _ d ay of _ 20_ . EXECUTOR NAME: DESIGNATION: ORGA NISATION: (With Seal) In the presence of witnesses: — 1) 2) Annexure to the Second Schedule Details of wareho uses included in th e Indemnity Bond Sl. No. Name and Address of the Warehouse Capacity in MT JEETESH SHARMA, Director (Admin & Finance) [ADVT. -III/4/Exty./31 9/2023-24] Uploaded by Dte . of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054 .