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What are the requirements for the registered warehouse?

Here are the details about the registration requirements for the warehouse process and depositor details as well a few obligations for the business are listed down those are about the negotiable details.
Performance Requirements for a Registered Warehouses
(a) Compliance with registration requirements. – A warehouseman shall always:

•maintain effective control of the warehouse.
•continue to be a fit and proper person as per the criteria as
•stated in registration rules.
•comply with the insurance requirements as stated in registration rules.
•maintain the prescribed minimum net worth.
•keep updated security deposit at the prescribed interval.
•maintain the infrastructure to keep it compliant with the
•minimum infrastructure requirements; and
•comply with its standard operating procedure in accordance with registration rules.

(b) Know your depositor requirements. –
The warehouseman shall maintain the know your depositor (KYD) details with respect to various depositors as specified under the registration rules.
(c) General obligations of a warehouseman. –
In the conduct of its warehousing business, a warehouseman shall
i. Issue an (electronic) negotiable warehouse receipt only in respect of such goods that have been specified by the Authority from time to time.
ii. Deliver the goods referred to in an (electronic) negotiable warehouse receipt, to the holder of the (electronic) negotiable warehouse receipt on demand made by the holder after satisfying the warehousing lien.
iii. Ensure that the (electronic) negotiable warehouse receipt holder, on receiving the goods from the warehouseman, acknowledges the receipt of the goods in a form and manner required by the Authority.
iv. Take necessary actions to maintain the quality and quantity of goods stored in the warehouse.
v. Maintain and record a complete and accurate set of records and accounts of all transactions pertaining to the operation of a registered warehouse as per the requirements that the Authority may specify from time to time.
vi. Ensure that the physical inventory tallies exactly with the record.
vii. Maintain effective control of all registered warehouse storage space.
viii. Provide necessary assistance in the execution of inspections and audits by the Authority.
ix. Resolve grievances efficaciously.
x. Does not differentiate among depositors regarding use of and access to a warehouse.
xi. Not store goods belonging to itself in a registered warehouse; and
xii. Not sell, remove, or dispose of the goods deposited in a registered warehouse except as permitted under the Act.
(d) Information contained in warehouses receipts. –
A warehouseman must ensure that all warehouse receipts issued by it, negotiable or otherwise, comply with the requirements of section 11 of the Act and the rules, regulations, and notifications made thereunder.
(e) Mandatory registration with e-negotiable warehouses receipt repository. –
i. With effect from June 1, 2019, no warehouseman shall issue any negotiable warehouse receipt in physical form and shall register with one or more repositories registered with the Authority for issuing negotiable warehouse receipts in electronic form.
(f) Disclosure of information. –
i. A warehouseman shall make written disclosure to the Authority of any of the following events, namely: –
•any change in the key managerial persons of the warehouseman, within fifteen days of such change.
•any change in the ownership or capital structure of the warehouseman, within fifteen days of such change.
•any change in the net worth of the warehouseman, on a quarterly basis.
•the occurrence of any of the events stated in sub-rule (2) of rule 17, within fifteen days of such event.
•the initiation of a dispute in relation to the goods deposited in a warehouse or the (electronic) negotiable warehouse receipt issued in relation to the deposited goods, immediately upon the initiation of the dispute; and
•any change in location or capacity of the warehouses managed by the warehouseman, whether registered with the Authority or not, immediately on the occurrence of such change.
ii. The Authority may, by order, require the warehouseman to make any additional disclosures and stipulate the form and way disclosure is required to be made.
(g) Submission of information regarding warehouses receipts. –
i. A warehouseman shall submit monthly reports to the Authority in such form and manner, including in electronic form, as may be specified by the Authority on this behalf.
ii. The monthly reports to be submitted under this rule shall contain the following details of warehouse receipts in respect of the preceding month, namely: –
•the total number of warehouse receipts (negotiable and non-negotiable) issued, redeemed, or canceled.
•the commodity wise stock position of all goods against which the warehouseman has issued warehouse receipts (negotiable and non-negotiable);
•the aggregate market value of all goods against which the warehouseman has issued warehouse receipts (negotiable and non-negotiable) as on the last day of the preceding month; and
•the (electronic) negotiable warehouse receipts pledged with banks and financial institutions.
iii. The Authority may require additional information regarding the (electronic) negotiable warehouse receipts issued by the warehouseman, or the goods stored by the warehouseman in registered warehouses.
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