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WDRA act and WAREHOUSE RECEIPTS

Any idea what does the segregation of receipt i.e. negotiable and non-negotiable receipts signify.
मैं खड़ा हूँ उसी दोराहे पे, आज भी इंतज़ार में तेरे !
या तो ज़िन्दगी आये तेरे लिबास में! या मैं चलूँ फिरदौस की तलाश में !!

Comments

  • When you deposit commodities, lets say Sugar, in a warehouse, the warehouse issues you a warehouse receipt.

    In case of negotiable receipt, you can sell the receipt to another person who will become owner of the commodity by virtue of holding the receipt.

    In case of non-negotiable, you need to sell the sugar and deliver it to the other party, who will need to obtain separate receipt from the warehouse.
  • @tekina ji shukriya what i understand ... i have sugar or i will tell the warehouse that i will have sugar after 6 month thn warehouse will issue me the receipt thn i will go to the bank and ask that i hav the receipt so give me loan ...so this is how receipt system works, tht spot xchnge scam happened coz there was no actual sugar. keep it apart so u are saying negotiable i can sell to other person but non negotiable i cant sell. ok but why is it so.
    मैं खड़ा हूँ उसी दोराहे पे, आज भी इंतज़ार में तेरे !
    या तो ज़िन्दगी आये तेरे लिबास में! या मैं चलूँ फिरदौस की तलाश में !!
  • No, a receipt can only be issued when commodity is actually delivered. Not on promise to deliver in future.

    In the NSEL scam, fake receipts were issued, i.e. receipt issued but no commodity present.

    Traditionally only non-NWRs were issued. Warehousing Development and Regulatory Authority (WDRA) was set up under the WDRA act. Only those warehouses which are recognized by WDRA can issue NWRs.

    These warehouses have to meet infrastructure and operational standards of WDRA. Also WDRA keeps a record of all NWRs issued and their transactions. Such record is not centrally maintained for non-NWRs. Only the issuing warehouse has the information.
  • @tekina tnks :\">
    मैं खड़ा हूँ उसी दोराहे पे, आज भी इंतज़ार में तेरे !
    या तो ज़िन्दगी आये तेरे लिबास में! या मैं चलूँ फिरदौस की तलाश में !!
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