The Warehousing Development and Regulatory Authority (WDRA) on December 04, 2020 has issued a notification to notify the following revised procedure for requirement of Security Deposit for registration of warehouses with the Warehousing Development and Regulatory Authority, namely:-
• The applicant seeking registration shall submit a Security Deposit to the Authority before issue of a registration certificate. The Security Deposit shall be required to be submitted within 21 working days after issue of a communication by the Authority to this effect.
• The Security Deposit has two components, i.e. fixed and dynamic Security Deposit.
• The fixed Security Deposit shall be maintained for 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
• The Authority shall refund the security deposit in respect of a warehouse, if an application for renewal of registration of the warehouse has been rejected and if the Authority is satisfied that the warehouseman has discharged his obligations as per the requirements of the rules or if the certificate of registration of a warehouse is cancelled.
[Notification No.: T-23/3/2020]
