S. No. TOPIC Page No.

1. Warehousing 2
1.1 Functions of warehousing 2
1.2 Importances of Warehousing 3
1.3 Benefits of Warehousing 3
1.4 Types of warehouses 4
1.6 Objectives 6
1.7 Features of Warehousing 6
2. WDRA Act 8
2.1 Perliminary 8
2.2 Regulations of warehousing business 10
2.3 Warehousemen 11
2.4 Warehouse receipts 14
2.5 WDRA 18
2.6 Powers and functions of authority 20
2.7 Finance, Accounts and Audits 22
2.8 Powers Of Central Government 22
2.9 Appeals 23
2.10 Offences and Penalties 24
2.11 Miscellanious 25

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1. WAREHOUSING:

A warehouse can be defined as a place used for storing or collecting goods. Storage work can
be done successfully with the help of storage equipment used for storage.

Warehousing can also be defined as the assumption of a commitment to property. By storing

goods year-round and unloading them as needed and when needed, repairs create time-
consuming expenditures.

1.1 Functions of Warehousing:

 Storage: This is a basic cleaning job. Extra unnecessary goods can be stored in
warehouses. They can be provided as and when needed.
 Price stability: Wires play a major role in the price stability process. Available through
time-consuming by warehousing. There is no commodity price where their delivery is
plentiful and increases in price while slides are avoided.
 Carry the risk: When goods are stored in warehouses they are exposed to many risks in
the form of theft, vandalism, surveillance, fire etc. Wards are designed in such a way as to
minimize these risks. The bail agreement applies when the goods are stored in a
warehouse. A warehouse worker acts as a boiler and a waiter acts as a boiler. The
warehouse keeper should take good care of the goods and protect them from various
risks. For any loss or damage to the goods, the custodian will be compensated by the
owner of the goods.
 Finances: The loan can be raised at the storekeeper keep the goods held by the owner.
The goods act as security for the warehouse keeper. Similarly, banks and other financial
institutions are also developing counterfeit loans and savings receipts. In this way,
warehousing serves as a financial source for entrepreneurs to combine business activities.
 Ratings and parking: These warehouses provide packaging, processing and ordering
services. The goods can be packed in the correct size according to the instructions of the
owner.

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1.2 Importance of Warehousing In the Development of Trade and Commerce:

Warehousing or storage means the handling and storage of goods until they are delivered to
consumers. Generally, there is a gap between production and consumption of products. By
closing this gap, storage creates time consumption. There is a need to keep the goods in order
to make them available to consumers as and when needed. A certain amount of goods is kept
throughout the sales process. Appropriate and adequate arrangements for selling goods in the
right context are essential for the success of marketing. Storage enables a company to be able
to produce in anticipation of future demand.

A warehouse is a place used for storing or storing goods. It can also be described as an
institution that takes responsibility for storing goods safely. Wires enable entrepreneurs to
produce year-round and sell their products, whenever there is sufficient demand. The need to
maintain accommodation also arises because some goods are only made for a specific season
but are required throughout the year. Similarly certain products are produced all year round
but only required for a specific season. Warehousing facilitates production and distribution
on a large scale.

1.3 Benefits of Warehouses:

 Regular production: The material used for rice needs to be stored in order to produce
more complexity to be continuously produced. In some cases, goods are stored pending
inflation. Clocks enable manufacturers to produce goods in anticipation of future demand.
 Time usage: A warehouse creates time-consuming labor by bridging the time gap
between production and consumption of goods. It helps to make goods available
whenever they are wanted or wanted by customers.Some goods are produced year-round
but only required at certain times of the year, e.g. Wool, raincoat, umbrella, heater, etc.
On the other hand, some products are wanted all year round but are produced in a specific
region, eg wheat, Rice, potatoes, etc. Goods like rice, tobacco, alcohol and jaggery
become more useful over time.
 Supply Store: Basically, a warehouse serves as a store for extra urgently needed items.
Goods are usually produced in anticipation of demand and need to be well maintained
until demanded by consumers. Immediate goods can be stored in a warehouse to meet
future demand.
 Numerical stability: Watches reduce the volatility of price volatility by storing goods
when their supply is more than demand and relieving them when demand is more than
immediate products. Watches ensure regular supply in the market This comparison of
supply demand helps stabilize prices.
 Risk reduction: The wards provide for safe storage of goods. Non-perishable products
can be stored in cold storage. By storing their assets in warehouses, entrepreneurs can
minimize the loss of damage, fire, theft etc. Goods stored in a warehouse are usually
insured. In the event of loss or damage to property, the property owner can receive full
compensation from the insurance company.
 Packing and measuring: Certain products must be prepared or processed in order to be
ready for human use, e.g., coffee, tobacco, etc. Today's store offers the services of

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 packaging, packaging, mixing, grade installation etc., of goods for commercial purposes.
Purchasers can inspect the goods stored in the warehouse.
 Finances: The wards provide a receipt to the holder of the goods stored in the warehouse.
The owner can loan money for the security of the goods by agreeing to get a property
receipt. In some countries, warehouse authorities raise funds against warehouses. By
storing imported goods in a corporate warehouse, the entrepreneur can pay the sales tax.

1.4 Types of warehouse:

 Private Warehouses:

Private warehouses are labor-intensive and are manufactured by major manufacturers and

retailers to fulfill their storage needs. Goods manufactured or purchased by a warehouse

owner have limited value or utility as the entire business cannot utilize them due to the

considerable investment required to build a storage facility, some large business firms

require a large amount of storage space and who can cost, build and maintain their

personal belongings. A major manufacturer or retailer may have a network of its own

repositories in different parts of the country.

 Public Warehouses:
A public warehouse is a specialized business center that provides public warehouses with
a certain amount of money. It may be owned and operated by an individual or a

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 cooperative society. It must operate under a government license in accordance with the
rules and regulations.
Public storage facilities are so important to the sale of agricultural products that the
government promotes the establishment of public warehouses in the cooperative sector. A
public warehouse is also known as a warehouse.
Social repositories are very useful for the business community. Many businesses are not
able to afford their warehouses due to capital investments. In many cases the storage
facilities required by a business do not operate a private store. Such businesses can meet
their maintenance needs easily and economically by using public warehouses, without
investing much. Public storage facilities provide storage facilities to small producers and
retailers at a low price. These warehouses are well built and monitored day and night to
ensure safe storage. The last public places are usually located near railroad tracks,
highways and waterways.
They provide, therefore, the best places for easy recovery, Dispatch, Load and Freight
Shipping. They also use mechanical devices to handle heavy and bulky goods. The public
warehouse enables entrepreneurs to serve their customers quickly and economically by
carrying regional shares near important trading centers or markets of both countries.
Public warehouses provide logistics inspection services for potential buyers. They also
allow packing, layout and packaging. The last public receipts are good securities
securities on loan.

 Bonded Warehouses:
Consolidated warehouses are licensed by the government to accept imports
for storage until custom work is paid. They are located near the ports. These warehouses
are used by the state or operated under the control of the customs authorities.

A warehouse is required to provide a function or 'Bond' that it will not allow the goods to
be moved without the consent of the custom authorities. The goods are bonded and
cannot be withdrawn without paying for custom work. Goods held in the warehouse will

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 not enter the owner without the permission of the customs authorities. The name is thus
reserved for the latter.
Consolidated warehouses are very useful for importers and exporters. If the importer fails
or is unwilling to pay a late payment for the goods, the goods can be stored at the
warehouse. He or she may issue goods in installments by paying custom tax.

2. Warehousing Development and Regulatory Authority:

2.1 Objectives of the WDR Act 2007 :

The most important objectives of the WDRA, 2007 are to make provisions for the
management and development of warehouses, negotiating warehouse receipts, establishment
of Warehousing Development and Regulatory Authority (WDRA) and other related matters.

The work of the WDRA is to ensure that the interests of farmers are protected by growth and
development in the real estate sector. The main goals are to improve the trust of the
depositors and banks, to increase rural expansion, to promote scientific savings, to reduce
funding costs, to promote shorter and efficient supply chains, to increase equity and quality,
and to ensure price risk management.

2.2 Features of Warehousing (Development and Regulation) Act, 2007

 Regulation of warehousing business

No person shall commence or continue with any undertaking of procurement without
obtaining a certificate of registration from the WDRA after fulfilling the requirements
in respect of a warehouse or warehouse.
 Accreditation and Registration of warehouses

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 WDRA manages violence, strikes or terrorism. The warehouses must have a valid
certificate approved by the Chartered Accountant or a debt repayment certificate from
the organized bank of each property or organization.
 Special Provisions for Registration of warehouses of Primary Agricultural
Cooperative Societies (PACSs)

In order to assist farmers to obtain benefits under the grants system, the WDRA has
simplified the process of registering reserves within the Department of Agriculture
Cooperative Society closest to farmers.

 Introduction of NWR System in cold storages

WDRA in conjunction with the National Horticulture Mission (NHM) and the National
Horticulture Board (NHB) have introduced a receipt for the use of cold goods so that
growers / agricultural producers can store these goods in cold climates and may benefit
from loans to NWRs issued by storages cold registered and registers the country's last
reserves. Only storage facilities registered with WDRA can issue unsecured Warehouse
Receipts (NWRs).

WDRA follows a strict scrutiny process before registering with the store. The process
involves authorization before registering with WDRA. The WDR Act 2007 provides for
the appointment of private bodies authorized to approve the merger conditions specified
by WDRA. The warehouse must apply to the accreditation agency of their choice for the
issuance of an accreditation certificate. WDRA-accredited agencies are required to visit
annually at registered storage facilities to ensure continued compliance with specified
requirements.

WDRA specified specific details of the warehouse registration. Some of these are:

 The warehouses should be designed according to the Bureau of Indian Standards

(BIS) structure. Authorization agencies have some understanding in updating
information without compromising the integrity of the asset.
 They need to be saved by a stupid security agreement
 Must have qualified personnel with the necessary knowledge and scientific
knowledge of the storage of materials and have the necessary equipment to control
pests and pests.
 Must be insured for property and stock fire, flood, theft, burglary, mismanagement,
Notification of Agricultural Commodities

As a rule, as of January 2016, WDRA has informed 123 agricultural products

including cereals, dip, oils, vegetable oils, spices, edible nuts and mixed substances
such as rubber, tobacco, tea, coffee, cards etc. to issue NWRs. 26 field products, such
as Potato, Grilled Onions, Garlic, Ginger, Turmeric, Apples and Resins etc. have also
been introduced for the release of NWRs by boiling colds.

 Addressing Concerns of Stakeholders

The Act requires the custodian to be compensated for the loss, or damage to the assets
arising from his or her failure and provides for compensation to the mortgagee

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 The law also provides for penalties if the custodian issues a saved receipt without
delivering the goods themselves or without satisfying them adequately that the amount,
weight or grade of the goods corresponds to the number, weight or grade specified in the
housekeeping receipt number. 

2.3 Functioning of WDRA

In the event any store feels the need to issue NWRs due to demand from its customers or due
to competition, it is up to WDRA to obtain approval. The authority then sends a team of
inspectors who judge the warehouse on various computers such as whether it is custom-built,
has trained technicians, is it equipped with modern pest control for filling services, its
importance, safety, fire-preparation and weight-bearing equipment. If the party is satisfied
with the terms, WDRA issues a brochure containing the NWRs. The store then releases this
receipt to customers (farmers and people who keep their produce in godowns) instead of the
usual receipt. Since these registers are accepted by the government, banks can easily offer
loans. The farmer receives a legally recognized receipt that he / she can borrow from the bank
for further farming activities or to sell his or her produce to a third party through a receipt,
without taking the real property.

3. THE WAREHOUSING (DEVELOPMENT AND REGULATION) ACT, 2007

ACT NO. 37 OF 2007

It is an Act that makes provisions for the regulation and development of warehouses,
negotiability of warehouse receipts, establishment of a Warehousing Development and
Regulatory Authority and matters connected.

BE it enacted by Parliament in the Fifty-eighth Year of the Republic of India as follows:—

3.1 CHAPTER I

PRELIMINARY

1. Short title, extent and commencement:

(1) This Act may be called the Warehousing (Development and Regulation) Act, 2007.

(2) It extends to the whole of India except the State of Jammu and Kashmir.

(3) It shall come into force on such date1 as the Central Government may, by notification in
the Official Gazette, appoint.

2. Definitions:

According to this Act, unless the context otherwise requires,—

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(a) “accreditation agency” means an agency, whatever be its constitution, registered with the
Authority under section 5.

(b) “actionable claim” shall have th’e meaning assigned to it in section 3 of the Transfer of
Property Act, 1882 (4 of 1882).

(c) “Authority” means the Warehousing Development and Regulatory Authority established
under sub-section (1) of section 24.

(d) “depositor” means a person who delivers goods to the warehouseman for storage.

(e) “endorsee” means the person to whom the warehouse receipt is negotiated.

(f) “endorsement” means signing on the warehouse receipt by the depositor or holder of the
warehouse receipt for the purpose of its negotiation.

(g) “electronic form”, with reference to information, means any information generated, sent,
received or stored in media, magnetic, optical, computer memory, microfilm, computer
generated micro fiche or similar device.

(h) “fungible goods” means any goods of which any unit is, by nature or usage of trade, the
equivalent of any other like unit and are received by a warehouseman as fungible goods.

(i) “goods” means all tangible movable goods (other than actionable claims, money and
securities), whether fungible or not.

(j) “grade” means the quality standard of any goods as notified as grade designation by the
Central Government under the Agricultural Produce (Grading and Marking) Act, 1937 (1 of
1937) or any other law for the time being in force.

(k) “holder” means,—

(i) in relation to a negotiable warehouse receipt, a person who is in possession of such receipt
and a right to goods endorsed on it.

(ii) in relation to a non-negotiable warehouse receipt, a person named in it as the person to

whom the goods are to be delivered or the assignee of that person.

(l) "Member" means a member of Authority and includes Chairperson.

(m) "warehouse receipt" means a receipt in which the goods represented are transferred to a
deposit or order, a recommendation which results in the transfer of the goods represented
thereto and an agreement requiring good title.

(n) "preventable savings receipt" means a receipt that is saved without receiving a
preservation receipt.

(o) "notice" means a notice published in the Official Gazette.

(p) “person” includes a strong, co-operative society or any organization or group of persons,
whether incorporated or not.

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(q) "prescribed" means prescribed by the rules made under this Act.

(r) "regulation" means a law made under this law.

(s) "warehouse" means any premises (including any protected area) that complies with all the
requirements including personnel specified by the Authority in terms of which the warehouse
holder holds a drawer and includes a storage unit for heat and humidity.

(t) "warehouse business" means a warehouse business and issue receipts for storage which
can be negotiated.

(u) "invoice receipt" means in writing or by electronic form provided by the accountant or his
/ her legal representative (including deposit by name)

(v) "shopkeeper" means any person to whom a certificate of registration has been issued in
respect of any store or factory by the Authority or an accreditation agency.

3.2 CHAPTER II
REGULATION OF WAREHOUSING BUSINESS

3. Requirement for registration of restaurants that issue receipts for storage:

(1) No person may start or continue a warehouse business unless he has obtained a
registration certificate in respect of the warehouse or storage facilities provided by the
Council under this Act:

Provided that a person who runs a warehouse business before the commencement of this Act
will be allowed to continue with that business, should he apply for registration within thirty
days from the date of commencement:

It is also provided that no such registrations will be required in the latter that do not propose
to issue a receipt that can be negotiated.

Interpretation. - In order to dispel doubts, it is clarified that a warehouse registered under this
law will also be eligible to issue unsecured receipts in storage.

(2) Notwithstanding anything contained in subsection (1), the Authority may, subject to such
rules and guidelines issued by it, authorize any person registered under section 5 as an
accrediting agency to issue a certificate of approval to any person by continuing the business
of issuing storage receipts and negotiations.

4. Registration of warehouses:

(1) Any person wishing to start or continue with a warehouse business issuing storage
receipts may apply to the Registration Authority in respect of one or more of his or her
warehouses.

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(2) Every application for registration under subsection (1) shall be so and shall be subject to
the prescribed fees.

(3) The Authority may, after investigation and subject to such terms and conditions as it may
deem appropriate, issue a certificate of registration of the property in the prescribed form and
have a registration number from the applicant authorizing him to carry on the business to
maintain the warehouse or warehouse receipts and to issue receipts for storage.

(4) The Authority shall not issue a certificate of registration under this section unless it is
satisfied that the storage facility has sufficient facilities and safeguards necessary to store the
goods of the type specified in the application and the applicant satisfies the financial,
administrative and other criteria of suitability and ability as prescribed:

Provided that no registration certificate will be refused to any applicant under this section
unless the applicant has been given the opportunity to be heard.

5. Registration of accreditation agencies .—

(1) The Executive Authority shall, from time to time, determine the number of accrediting
entities as it may authorize the issuing of an accreditation certificate in the last issuing
receipts for the purchase.

(2) Any person fulfilling a qualification and other requirements as may be prescribed and
wishing to operate as an accreditation body under this Act may apply to the authorities
seeking his registration under this Act.

(3) All applications under subsection (2) shall be as such and shall be subject to the fees and
security deposit as may be prescribed.

(4) The manner in which the terms and conditions under a certificate of registration not
issued under this section shall be in such manner as may be prescribed.

3.3 CHAPTER III

WAREHOUSEMEN

6. Consumer Debt Liabilities.—

(1) The stockholder is responsible for the loss, or damage, of the assets arising from his or her
failure to care and diligently in respect of the property as a vigilant and vigilant holder of the
same assets.

(2) If an asset is damaged or lost despite all reasonable care and precautionary measures as a
result of unavoidable circumstances, compensation equal to the value of the goods at the time
of installation of the goods shall be paid by the custodian.

(3) If an asset is damaged or lost as a result of the negligence of the custodian, then the
compensation shall be equal to the value of the assets and loss of profit to the acquirer.

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(4) The warehouse manager shall not be liable for any loss, damage, damage or damage to the
goods brought to him for storage in such cases as force, military action, public enemy action
and the like.

7. Duties of Storekeepers

(1) If there is no official exemption, the shop owner must deliver the goods mentioned in the
negotiated receipt, to the holder on receipt of the request made by the owner and keep the
owner fulfilling all of the following conditions, namely: -

(a) satisfy the warehouse lien.

(b) handing over the receipt if the receipt cannot be negotiated and gives the receipt for
approval upon receipt. and

(c) agree in writing the receipt of goods.

(2) If the custodian refuses or fails to deliver the goods in accordance with the provisions of
this section, the burden of proof shall lie on the waiter to prove the existence of a valid reason
for the refusal or failure.

8. Duties of warehouseman to keep records and accounts of warehouse business —

(1) Every warehouseman shall keep in a place of safety a complete and accurate set of
records and accounts of all transactions pertaining to the operation of a warehouse including
records and accounts of all goods received in the warehouse and withdrawn there from, of all
un issued receipts in his possession, of all receipts issued, returned to, or cancelled, by him.

(2) Subject to the provisions of subsection (1), the warehouse manager shall keep all records
and accounts of the conservation business in a separate and distinct order in the records and
accounts of any other business in such and such manner and such time as the Executive
Authority may, by order, specify. (3) The custodian manager shall make it available to the
officer to inspect the records and accounts of the maintenance business at any time as may be
required by the forum.

9. A specialty waiter to deal with intangible and dangerous goods:

(1) in the case of the holder of the goods receipt, if the manager's name and address is known
to the waiter or if it is not known to the warehouse keeper, then, to the depositor, who
requires that person to satisfy the goods and goods to remove them from the store.

(2) If a person who has been served a notice under subsection (1), fails to satisfy a liar and
removes the goods within the time specified in the notice, the guard may sell them for public
or private sale without any advertising.

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(3) The notice referred to in subsection (1) may be given by e-mail, post or registered mail or
telephone. is addressed to the person to whom the last address will be given and the notice is
deemed to be given on the third post.

(4) If the owner of a shop after due effort is unable to sell the goods, the store owner may use
the alternative as he sees fit and shall not be liable for the cause.

(5) Since the sale or disposal of goods made under this section, the warehouse manager, after
satisfying the liar, holds the remaining trust money in the receipt holder.

(6) No notice shall be required if the shop owner is satisfied with good reason that in the
circumstances of the case giving notice may result in further prejudice to the goods.

(7) If, at any time, a storekeeper is satisfied that the quality of any damaged goods or any part
of it has deteriorated or deteriorated to the extent necessary to do so, contact the owners of
the storage receipts under discussion from the loss and sufficient time to seek their orders,
may, by following the instructions in this case, dispose of any assets or any part of them and
continue to sell them after the debt has been filled with escrow account for the benefit of the
receipt holders.

(8) In the event of a lost property disposed of under subsection (7), the custodian may, at the
option of the receipt holder, pay the sale proceeds or bring the same property of the same
grade, quality and value to him.

(9) Any sponsor shall have the right to approach his or her registered service address with the
custodian.

(10) Liar of goods in stores —

1. Every person working in a warehouse has a law for the goods deposited on it for storage,
whether by the owner or his or her authority, or by any other person entrusted with the goods
or his agent.

2.The custodian's liabilities are calculated for the total cost of maintenance and maintenance
including— (a) all statutory costs of maintaining and maintaining the assets; (b) all
reasonable costs for (i) any required notice given in terms of this law; and (iv) compliance
with statutory provisions.

3. In the event of a receipt of a warehouse by a bank or a custodian, such approval shall be

proof of security and the security shall foreclose interest.

4. In the event of any security referred to in subsection (3), the storage manager may not
deliver the goods unless the security clearance has been canceled.

5. In the event that the goods are not returned within the stipulated deadline, the shop owner
shall be entitled to recover his costs, sell the goods at public auction, or in any other manner
provided in this section for any goods on which he has lied. The landlord must give notice in
writing of his or her intention to sell the debtor to the debtor or to the owner or right-holder,

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the deposit, the name of the applicant and the false statement by the custodian of the goods
stored in the warehouse; and state that unless expenses are paid at the time specified in the
notice, the goods shall be displayed for sale and sold at public auction at such time and place
as specified in the quotation.

6. If unpaid charges are payable on or before the date specified in the notice, then, unless the
alternative of sale is specified by the authority, in terms of the advertisement, the
advertisement shall be published in the leading newspaper delivered to the place where the
sale is to be sold from the initial sale, continue to inform where the property owner is located
and for the sale. The liar will pay the excess amount, if any, to the person to whom the item
was delivered.

7. If what you need is not demanded by the person furnished within 10 days after the sale of
the Goods or in the case of separate claims, the warehouse manager shall seek the instructions
from the authorities and execute the directions of the Authority.

3.4 CHAPTER IV

WAREHOUSE RECEIPTS

11. Invoices for road property. -

(1) A saved receipt, which may be in written or electronic form, shall be the subject of the
goods in writing if it contains all of the following information, namely: - (a) receipt number;
(b) the registration of the inventory and the date on which it occurs; (c) the name of the last
building and its full address; (d) the physical address of the person in whose name the goods
have been transferred or (on behalf of) (e) the date of issue; (g) the final cost and expense
charges (h) a description of the goods or packages containing information on the quality and
quantity or grade (i) the market value of the goods at the time of installation; (j) independent
markers of the adepositor on goods or packages, if any, in the case of non-functional goods;
(k) the name of the insurance company indemnif ying for fire, flood, theft, burglary,
inappropriate use of roads, violence, strikes or terrorism; (l) whether the receipt for the
warehouse is negotiable or disputed; The waiter says his lien; (n) the date and signing of the
custodian or his authorized agent; (o) declare the shelf life of the goods; (p) the fact that the
stockholder holds custody of the securities for his own personal custody and liabilities; and
(q) that the receivables would be effective only until the expiry date of the asset's life of the
asset.

(2) In the event that a person operating a warehouse intentionally omits any information
referred to in subsection (1), he or she shall be compensated for the damage caused by such
omission.

(3) No acquisition of a building shall be deemed to be illegal by any of the information

provided for in subsection (1), as it does not appear to be for the purpose of resolving
disputes or claims.

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(4) The authority may approve or alter any information as defined in subsection (1) of all
goods or class of goods or any other kind of storage facilities.

12. No Availability of Storage Receipts—

(1) Names in the receivable balance of a restricted stock shall be missed.

(2) The warehouse holder issuing a final receipt for which there is no negotiation must be
clearly written on his or her face the words "non negotiable" or "non-negotiable" in English
or in the language in which it was issued. that the receipt under discussion may, at its
discretion, treat the receipt as distributing all rights to the receivable receivable and deposit to
the stockholder the same debts that he would have received if he had received the non-
negotiable receipt and the stockholder would have been paid accordingly. shelf life declared
in the goods for which it was issued.

13. The negotiation of the acquisition of the assets held in transit by the endorsee has
consented.

14. Transfer of final receipts discussed without obtaining consent –

When an invoiced receipt is forwarded for further consideration for delivery, and the
transferor's support is essential for negotiation, the transferor obtains the right against the
transferee to compel him to receive the receipt, unless the contrary intention arises, and
negotiation begins as time goes by.

15. Consent to a negotiated acquisition of a conservation asset –

The person, in the best interest, negotiates retention receipts by delivery and delivery,
including the one who placed it in the most important consideration, the claim protected by
the receipt, unless a contrary intention arises. the following :—

( a) that the receipt is true;

(b) that a person has the legal right to negotiate or transfer;

(c) that a person does not have factual information that would offend the validity of the
receipt;

(d) that a person has the right to transfer the title to this property;

(e) that the goods may be sold or ready for a specific purpose for which such decisions may
not be stated, if the contract of the organization was to transfer without receiving the goods
represented by it.

16. Debtor's absence of credit –

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Receipt of a receipt does not make the latter liable for any failure on the part of the
stockholder or the last surviving receiver to fulfill their obligations.

17. Negotiation of the acquisition of assets held without fraud, error or vandalism –

The validity of the receipt negotiation does not affect the fact that—

(a) bargaining was a breach of duty to the person conducting the negotiations;

(b) the holder of a receipt deducted by fraud, error or abolition of that goods, or if the person
to whom such receipt was received or the receiver was later found, whose value without
infringement, fraud, error or termination.

18. Subsequent negotiation of warehouse receipts –

If a person has sold, held or held securities in which the negotiated receipt has been issued, he
/ she will continue to receive negotiated receipts, subsequent negotiations for that person
under any sale or other asset for any person receiving a receipt in good faith, reasonable
consideration and without notice of a prior sale, mortgage or mortgage loan, has the same
effect that if the previous buyer, borrower or collateral the goods, as the case may be, had
explicitly authorized the subsequent negotiations.

19. Delivery of goods to be made after payment is due –

Once a receipt has been received in respect of any goods, the custodian will not hand over the
goods to the depositor or consignee, until the payment is made from the depositor from the
date the deposit was first made until the return of the goods and his or her reserves are
cleared.

20. Non-negotiable receipts transfer -

(1) A conservation receipt may be forwarded by the owner to the buyer or the consignor in
writing.

(2) The person to whom the goods have been acquired by the store is not permitted to
negotiate— (a) the subject of the transferor; and (b) the right to enter into the storekeeper a
receipt or duplicate thereof or give notice in writing to the bookkeeper for the transfer.

(3) The transferee must take advantage of the custodian's obligation to keep the property in
accordance with the conditions of the receipt when the deposit has been transferred and to
give notice in writing of the transfer and to the store had a reasonable opportunity to confirm
the transfer.

21. Conclusion of retained earnings receivables - in the hands of the owner who purchased
the preservation receipt for consideration, it will be indisputable proof of the goods described
therein as being the custodian of the goods or any other person seeking them.

22. Being initiated in certain situations - In a dispute between a contract for the receipt of a
homeowner's agreement and his or her attorney unless proven otherwise, it shall be deemed-

16
(a) consistency is voluntary;

(b) subsidies have been made in its entirety for full consideration;

23. Issuing of a double receipt—

(1) No warehouse person shall issue a receipt for the goods except to obtain goods of value,
quality or distance and other information as may be specified receipt.

(2) No person keeping warehouses shall issue more than one application for the same goods
to any person Provided that in the event of loss or damage, a double receipt can be issued as
much as possible defined by authority by rules.

(3) If the warehouse employee fails to comply with the provisions of subsection (2), he or she
will be paid all the damage caused by the failure to any person who used such receipt is
significant to look at it, to believe that it is real, even if the transaction is behind the delivery
of the goods is the custodian of the original receipt holder.

(4) The invoice on the face with the word "duplicate" clearly labeled is also a
sign warranty made by the stockholder that an accurate copy of the receipt properly issued
and not canceled on it the date the last receipt was issued.

3.5 CHAPTER V

BUYING FOR CONSIDERATION AND ONE OF THE RULES OF GOODNESS

24. Establishment and consolidation of Authority —

(1) Commences on that day as Central

The government may, by notice, specify in this regard, a new mandate will be established
called on the Warehousing Development and Regulatory Authority to exercise the powers
granted, and(f) to make regulations that undermine the accreditation of accreditation agencies
of goods;

(g) promote professional organizations affiliated with the repair business;

(h) determine the rate, tax, revenue and other costs of making provision for

this is the law;

(i) request information from, search, query and investigate including the audit of warehouses,
accreditation bodies and other related entities the repair business;

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(j) manage the prices, benefits, terms and conditions that may be provided by the warehouse
staff in the case of a goods repair business;

(k) specify, with the regulations, the manner and manner in which the books of account will
be used and the statement of accounts will be given by the shopkeepers, between warehouses
and warehouses;

(m) administer and develop an electronic system for managing and transferring credit
balances , perishable goods stored in warehouses;

(n) to determine the minimum percentage of space to be maintained for agricultural storage
items in a registered category;

(o) to specify the duties and obligations of the custodian;

(p) to exercise that other power and perform such other duties as may be prescribed.

(2) The Authority shall be a joint venture named after the permanent succession a strong
general mark, subject to the provisions of this Act, the acquisition, seizure and disposal of
goods, both immovable and immovable, and entering into an agreement and, by name, shall
issue a claim or claim.

(3) The Chief Executive Office must be located in New Delhi and the Authority may do the
same approval of the Central Government, establishing offices elsewhere in India.

25. Composition of Authority –

The authority must contain

(a) the Chairperson; and

(b) not two other members,

appointment by the Central Government from people of ability, integrity and standing have
extensive experience and experience in inventory management, insurance, maintenance,
quality control, agricultural, financial, economic, legal or administrative banks.

26. Term of office of Chairperson and other members—

(1) The chairperson and all others

A member shall hold office for a period not exceeding five years from the date of his or her
entry

The office will also be allowed to re-hire:

Provided that no person shall hold office as Chairperson or other member after his or her
appointment sixty-five years.

(2) Notwithstanding anything contained in subsection (1), a member may-

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(a) leave his office by submitting a letter to the Central Government

three months; either

(b) removed from office in accordance with the provisions of section 27.

27. Removal from office.—

(1) The Central Government may remove any member

(a) at any time, be declared a debtor; either

(b) may still serve as a member; either

(c) convicted of an offense committed in the opinion of the Central Government behavioral
variables; either

(d) receive such financial interest or other interest which may indirectly affect his or her
activities member; either

28. Salary, allowances and other terms and conditions.

29. Prohibition of future employment of members. –

The chairman and other members will not because for a period of two years from the date of
his or her appointment, except for the latter approval of the Central Government, accepting
any employment from any concern in the field of warehousing.

30. Chairman to be the chief executive officer. - The chairperson will be the superintendent
the authority of the Authority.

31. Meetings of Authority —

(1) The Authority shall meet at such times and places and shall maintain those rules of
procedure regarding business change at its meetings (including the quorum thereof meetings)
as may be determined by rules.

(2) The chairperson may, for whatever reason, be unable to attend a meeting of the
authorities, for any other reason a member elected by the members present at the meeting
shall preside a meeting.

(3) All questions before a meeting of the Authority shall be decided by a majority of votes by
the members present and voting, and in the event of an equality of votes, the Chairperson, or
the person in charge must have a second or final vote.

32. Vacancies, etc., not for the purposes of executive decisions. - No action or continuation
of the authority will operate improperly for a reason

(a) any vacancy, or any other aspect of the Constitution of the Authority; either

(b) any factor in the appointment of a person acting as a member of the Executive Authority;

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(c) any deficiencies in the executive process that do not affect the value of the case.

33. Officers and employees of Authority .—

(1) The Authority may appoint officers and others employees as deemed necessary in the
performance of their duties under this Act.

(2) The terms and conditions of service of the police and other officers of the Authority

under subsection (1) shall be governed by rules made under this law.

34. Abusive Advisory Committee.—

(1) The Executive Authority may, by notice, establish a

The Committee to be known as the Warehousing Advisory Committee advises the Authority
on certain matters relating to the making of regulations under section 51 and making the
recommendations effective the implementation of the provisions of this Act.

(2) The Wardhousing Advisory Committee shall consist of not more than fifteen members
except members of the Authority to represent the interests of commerce, industry,
engineering, agriculture, consumers, organizations including warehousing, quality control,
conservation and research organizations.

(3) Without prejudice to the provision of subsection (1), the Warehousing Advisory
Committee advise the Authority on any other matters that may be referred to it by the
authority.

3.6 CHAPTER VI

POWER AND RIGHTS

35. Powers and functions of Authority—

(1) Subject to the provisions of this Act and other laws during the term of office, the
Authority shall be responsible for overseeing and enforcing the

execution of The provisions of this legislation also promote the successive growth of the
warehouse business.

(2) Without prejudice to the several provisions, powers and functions of

The Authority shall include the following:

(a) issue applicants that fulfill the vendor requirements certificate of

registration in respect of a warehouse, or renewing, modifying, withdrawing, suspending or

canceling such waiver registration;

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(b) regulate the registration and operation of an accrediting agency, renew, modify, revoke,
suspend or cancel the registration, and specify the authorization code for the authorization
authority accreditation bodies for warehouses;

(c) specifying qualifications, code of conduct and practical training for shopkeepers and
employees involved in the warehouse business;

(d) to administer the security process, to create costs and expenditure in relation to it goods
packaged in a warehouse;

(e) improve the efficiency of the maintenance business;

(f) to make regulations that undermine the accreditation of accreditation agencies of goods;

(g) promote professional organizations affiliated with the repair business;

(h) determine the rate, tax, revenue and other costs of making provision for

this is the law;

36. Grants by the Central Government. –

Central Government, after the appropriation of the right funds by Parliament it is a law that,
instead, makes allowances for the accounting authority granted by the Authority the
government may think it appropriate to use the purposes of this legislation.

37. Constitution of the Fund. —

(1) a fund shall be known as Warehousing the Energy and Management Development Fund
will be honoured

(a) All Local Government grants, fines and charges received by the authority.

(b) All amounts received by the authority from any other source as may be determined by
Central Government.

(c) All amounts received in the form of penalties under this Act.

(2) The fund shall be used to meet—

(a) Salaries, allowances and other remuneration of members, officers and other employees of
the Authority.

(b) Other expenses of the Authority in connection with the discharge of its functions the
purposes of this law.

38. Accounts and audits.—

(1) The authority must keep proper accounts and other relevant information. Record and
prepare the annual statement of accounts in such manner and in the manner prescribed by
central Government in consultation with the Comptroller and the Auditor- General of India.

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(2) The accounts of the officer must be audited by the Comptroller and the Auditor-General
of India at such times as may be specified by him or her and any expenditure incurred in
connection with such research shall be paid by the officer to the Auditor-General and the
Auditor-General.

(3) The Comptroller and Auditor-General of India and any other person appointed by him
communication and auditing of the accounts of the officer shall have rights, privileges and
authority in respect of audits such as the Comptroller and Auditor-General generally
communication and auditing of Government accounts and, in particular, will be entitled to
demand production of account books, discounts linked to other documents and papers and
checks any offices of the Authority.

(4) Accounts of the Authority as certified by the Comptroller and Auditor-General of India
the other nominee for the position and the audit report will be forwarded every year in the
Central Government and that the Government will cause the same to be put before each the
House of Parliament.

39. To provide compensation, Annual Report, etc., to the Central Government. —

(1) The authority must provide to the Central Government at that time and in such manner
and manner as may be prescribed, or as the Central Government may direct to submit such
returns, statements and other information in respect thereof any proposed or existing scheme
to promote and develop the auto repair industry as and the Central Government may, from
time to time.

(2) Without prejudice to the provision of subsection (1), the officer must, within nine months
after the end of each financial year, they submit to the Central Government an annual report
giving the truth and a comprehensive account of its activities including promotional and
development activities repair business in the last financial year.

(3) Copies of reports received under subsection (2) shall be deposited, as soon as they are
available received, before each House of Parliament.

40. Power of the Central Government to issue directions.—

(1) Without prejudice to the above the provisions of this Act, the Authority must, in the
exercise of its powers and the performance of its functions, under this law, they are bound by
such references to policy questions, except those relating to technology and administrative
matters, as the Central Government may from time to time authorize: As long as the
Authority must, as far as possible, be given an opportunity to express his or her views prior to
any direction given under this section.

(2) The decision of the Central Government, whether the question is one of policy or not,
shall be final.

41. Power of Central Government to administer authority. - (1) If, at any time, in
Central government has a vision—

22
(a) that, due to circumstances beyond the control of the Tribunal, it cannot discharge perform
any functions or perform any function assigned to or in terms of this Act.

(b) That the Authority has contravened it in accordance with any direction provided by it the
Central Government under this law or the execution of functions or the performance of
functions which is limited to or subject to the provisions of this Act and as a result of such
financial failure the position of the Authority or the administration of the Authority suffered;
either

(c) that there are circumstances which necessitate public interest in doing so, the Public the
Government may, by notice and for the reasons described therein, replace the Authority that
period not exceeding six months, as may be specified in the notice and recommend the person
to take care of the functions of the Authority: Unless prior to issuing such notice, the Central
Government shall give an appropriate opportunity for authorities to make representations
against the proposed removal and will consider the representation, if any, of the authorities.

(2) Upon the publication of a notice under subsection (1) above the authority, -(a) The
Chairperson and the other members, from the date of approval, shall be deemed to have had it
out of their offices.

(b)All the powers, duties and functions of this Act, roused or issued by the Authority must,
until the authority is re-established under subsection (3), it must be operated and issued by a
person appointed by the Centre the state under clause (c) of subsection (1);

(c) All property owned by the Authority shall, until the authority is re-established under
subsection (3), to the central government.

(3) On or before the expiry of the period of issue specified in the notice issued below
subsection (1), the Central Government shall reconstitute the Tribunal with its new
appointment the chairperson and the other members and in such case any person who
relinquishes his or her position under clause (a)subsection (2) shall not be deemed
appropriate.

(4) The Central Government shall cause a copy of the notice issued under subsections (1) and
a complete report of any action must be put before each House of Parliament at the earliest.

(5) Notwithstanding anything contained in any law or in any contract or memorandum or

articles of the association, in the removal of a person, from office under this section, such
person shall not be entitled to claim any compensation for loss or termination.

3.7 CHAPTER IX

APPEALS

42. Appeals to Authority. —

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 (1) Any person aggrieved by an order of the Authority made under this law, any rules or
regulations made where they would like to appeal to that person.

(2)Every appeal made under this section shall be made in such form and manner and shall be
accompanied by a copy of the order appealed against and by such fees as may be prescribed.

(3)The procedure for disposing of an appeal shall be such as may be prescribed: Provided that
before disposing of an appeal, the appellant shall be given a reasonable opportunity of being
heard.

(4) An appeal filed before the Appellate Authority shall be heard and disposed of as
expeditiously as possible and endeavor shall be made to finally dispose of the appeal within a
period of ninety days from the date of its filing.

3.8 CHAPTER X

OFFENCES AND PENALTIES

43. Offenses and penalties .— (1) Any warehouse dispatcher may not be negotiated without
the actual delivery of the goods to his shop or warehouse or to the agent or attendant of the
custodian who issues a receipt without having satisfied that the goods for which the receipt
was stored are actually received or the amount, the amount or grade of goods corresponding
to the number, weight or grade specified in the acquisition of the goods or goods is under
their actual control at the time of issue of the acquisition, is liable and must be punished with
imprisonment for a period not exceeding three years or a fine which may increase the value
of the goods or both.

(2) The custodian or the agent or servant of the custodian, willfully issuing a completed
receipt that may be kept at his / her place of custody without following the procedure for
obtaining a final discovery, commits an offense and is liable to imprisonment for a term of up
to three years, or a fine. which can be up to one lakh rupees, or both. (3) A warehouse keeper
or an agent or a servant of a warehouse, who knows that receiving receipts in respect of such
goods is incorrect and canceled, delivers such goods without receiving such warehouse
receipt or prior to such delivery thereby causing an unlawful loss. or to benefit from any
person, is guilty and should be punished by such imprisonment for a period of up to three
years or a fine which may extend to one lakh rupees, or both.

(4) A warehouseman fails, upon receipt of a security deposit by the deputy or last and pays all
of his legal costs and cancellation of the receipt of the contents of the receipt, within the life
of the goods shelves, as referred to it and brings the goods represented by the receipt of the
offense and shall be punished for the period of such offense. three or a penalty of three times
the value of the goods or both.

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(5) Any mortgage holder, who has declared the value of the goods brought by him for
maintenance by the stockholder at a value which he does not believe to be fair value, is guilty
and shall be punished in this case for a fine not exceeding one lakh rupees.

44. Corporate offenses .—

(1) Where an offense under this Chapter is committed by a company, every person, at the
time the offense was committed, was in charge of the company or in charge of the money, as
the case may be, shall be deemed guilty of such offense and shall be liable and punished
accordingly: Provided that nothing in this section can provide any person guilty of
punishment if it is proved that such offense occurred without their knowledge or that he has
used all reasonable efforts to prevent such violation.

(2) Notwithstanding anything contained in subsection (1), in which any offense is committed
under this Chapter by a company and it is proved that the offense was committed by or
through the meeting of any director, manager, secretary or other company official, director,
manager, secretary or the other officer will also be deemed guilty and will be charged with
opposition and punished accordingly.

45. Recognition of judicial proceedings. –

(1) No court shall administer any offense punishable under this Act, except by a complaint
made by a tribunal or other authorized officer in writing to that authority.

(2) No court under the Metropolitan Magistrate or First Class Magistrate must try any offense
punishable under this law.

3.10 CHAPTER XI

MISCELLANEOUS

46. Chairperson, members, officers and other employees of the Public Service Tribunal-

The chairperson, members, officers and other employees of the Authority and the Applicant
must be taken into account, when making or agreeing to make other provisions of the Act.
This Act, of being a public servant in terms of section 21 of the Indian Penal Code (45 of
1860).

47. Protection of honestly taken action. –

No offense, prosecutor or other legal proceeding against the Central Government or any
officer of the Central Government or any member, officer or other employee of the Authority
for anything credible. made or intended to be performed under this law or the rules or

25
regulations made thereunder: For as long as nothing in this law shall relieve any person of
any offense or other proceedings that may be brought, except by this law, by this law.

48. Power supply. –The Authority may, in writing in general or in writing, delegate to the
Chairperson or another member or officer of the Executive Authority in accordance with such
conditions, if any of its powers and functions (except the power to make regulations under
section 51) under this Act as may be deemed necessary.

49. Economic and income tax exemptions. - It does not matter what is contained in the
Wealth

50. Powers of the Central Government to make laws.—

(1) The Central Government may, by notice, make rules to make the provisions of this Act.

(2) In particular, and without prejudice to the existence of the above powers, such rules may
provide for all or any of the following matters, -

(a) the manner and manner in which an application for obtaining a certificate of registration
for commencement or execution of the final issuance and negotiation receipts may be made
and the fees associated with the application under paragraph (2) of section 4;

(b) the manner in which a certificate of registration of a final property is issued under
subsection

(3) of section 4;

(c) the financial, administrative and other criteria for eligibility and performance that the
applicant must be registered in to the final disposal under subsection (4) of section 4;

(d) the qualifications and other requirements which the person applying for as an
accreditation center shall fulfill under subsection (2) of section 5;

(e) the manner and manner in which an application for registration as an accreditation agency
may be made and the fees which must accompany the application under subsection (3) of
section 5;

(f) the form of a certificate of registration of an accrediting agency under subsection (4) of
section 5;

(g) remuneration and remuneration, and other terms and conditions of service of the
chairperson and other members under section 28;

51. Power of authorities to make laws.

(1) In particular, and without prejudice to the existence of the above powers, such terms may
provide for all or any of the following matters, -

26
(a) matters relating to the authority of the accrediting agency under subsection (2) of section
3;

(b) the manner and procedure and the time at which a custodian shall keep records and
account of a warehouse business under subsection (2) of section 8;

(c) the method of disposal of any part thereof and the maintenance of the sale proceeding in
the escrow account by the custodian under paragraph (7) of section 9;

(d) the method of sale under subsection (10) of section 10;

(e) the procedure for the removal of the final acquisition under subsection (2) of section 23;

(i) the standards for accreditation of entities under subsection (f) of subsection (2) of section
35;

(j) the amount of fees and other charges levied to carry out the provisions of the Act under
clause

(h) of subsection (2) of section 35;

(k) any other matter that is necessary to be, or may be specified by, or in relation to any other
matter which may be prescribed by law or may be prescribed.

52. Power of authorities to make laws. make the provisions of this law.

(1) In particular, and without prejudice to the existence of the above powers, such terms may
provide for all or any of the following matters, -

(a) matters relating to the authority of the accrediting agency under subsection (2) of section
3;

(b) the manner and procedure and the time at which a custodian shall keep records and
accounts of a warehouse business under subsection (2) of section 8;
(c) the method of disposal of any part thereof and the maintenance of the sale proceeding in
the escrow account by the custodian under paragraph (7) of section 9;

(d) the method of sale under subsection (10) of section 10;

(e) the procedure for the removal of the final acquisition under subsection (2) of section 23;

(f) the time and place of meetings of the Council and the procedure to be followed at such
meetings including the quorum required for conducting business under subsection (1)

(g) the terms and conditions of service of police and other officers under subsection (2) of
section 33;

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