The Warehousing Development and Regulatory Authority (WDRA) on June 11, 2024, notified regarding the requirement of a Security Deposit for the registration of warehouses with the Warehousing Development and Regulatory Authority.
The following has been stated namely: -
• It states that the applicant shall submit a security deposit to the WDRA within twenty-one working days of receiving communication from the Authority, and failure to do so shall result in rejection of the application.
• It states that the security deposit shall comprise a fixed amount of fifty thousand rupees as provided in Table 1 in the attached document, per warehouse and a dynamic component of one percent of the maximum value of negotiable warehouse receipts outstanding across all registered warehouses of the warehouseman in the preceding month.
• It states that for warehousemen with total capacities exceeding 2000 metric tons, the fixed security deposit shall be one lakh rupees per warehouse, and the dynamic security deposit is a percentage of the maximum value of negotiable warehouse receipts outstanding in all registered warehouses during the preceding month, as specified in Table II in the attached document.
• It states that the fixed security deposit shall be maintained for six months beyond the registration period whereas the dynamic security deposit shall be updated at the end of each.
• It states that if the applicant or warehouseman is a Farmer Producer Organisation or a Primary Agricultural Cooperative Credit Societies or a Self Help Group then the total security deposit shall be fifty thousand rupees (total) per warehouse covering both the dynamic and fixed security deposit.
• It states that if the renewal application is rejected and obligations are fulfilled, and the warehouseman surrenders the registration certificate or the registration is canceled then the Authority shall refund the security deposit for a warehouse.
Kindly refer to the attached document for the detailed notification.
[Notification no. - T-23/3/2020-Technical-Part(1)]
