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Sebi issues rules for inspection of warehouses by clearing corporations
Capital markets regulator Sebi on Wednesday simplified guidelines on the requirement of inspection of warehouses by clearing corporations.
In its circular, Sebi said that the requirement of two inspections in a calendar year can be done away with for accredited storage facilities with 'nil' stock, continuously during the preceding six months.
In these cases, the number of inspections by an independent agency can be limited to once in a calendar year, it added.
With no stocks for the entire year, the regulator said that no independent inspections are needed. Before accepting new deposits, facilities with no inspections in the previous year must comply with in-house inspection requirements.
This decision is aimed at streamlining the inspection process and reducing unnecessary inspections for facilities without stocks, promoting ease of doing business while ensuring readiness and compliance.
Under the current rules, there is a requirement for clearing corporations to conduct independ