TMI BlogSEBI Circular on Penalty for Repeated Delivery DefaultX X X X Extracts X X X X X X X X Extracts X X X X ..... SEBI Circular on Penalty for Repeated Delivery Default - By: - CSLalit Rajput - Corporate Laws / IBC / SEBI - Dated:- 24-8-2021 - - SEBI Circular on Penalty for Repeated Delivery Default Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/ CDMRD/ DRMP/ CIR/P/2021/619 issued and publishes dated 17 th August, 2021 , has introduced Penalty for Repe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated Delivery Default in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992 , read with Section 10 of the Securities Contracts (Regulation) Act, 1956 . The Circular was addressed to: The Managing Directors / Chief Executive Officers, All Clearing Corporations having Commodity Derivatives Segment Need of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Circular: To protect the interests of investors in securities and To promote the development of, and to regulate the securities market. Applicability of the provisions of this circular Shall be effective after one month from the date of issuance of the circular. Circular in brief: SEBI has decided the followings, in consultation with Clearing Corporations (CCs) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the case of repeated default by a seller or a buyer, for each instance of repeated default, an additional penalty shall be imposed, which shall be 3 % of the value of the delivery default. Repeated Default shall be defined as an event, wherein a default on delivery obligations takes place 3 times or more during a six months period on a rolling basis. The penalty levied shall be tran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sferred to Settlement Guarantee Fund (SGF) of the Clearing Corporation. - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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