Guidelines on Corporate Governance for the Repositories registered for Creation and Management of Electronic Negotiable Warehouse Receipts

Guidelines on Corporate Governance for the Repositories registered for Creation and Management of Electronic Negotiable Warehouse Receipts issued by the Warehousing Development and Regulatory Authority (WDRA) in India:

1. Objective:
   • These guidelines aim to establish effective corporate governance practices for repositories involved in creating and managing electronic negotiable warehouse receipts (e-NWRs).
   • The focus is on ensuring transparency, accountability, and adherence to standards in repository operations.
2. Applicability:
   • The guidelines apply to repositories registered by the Authority for creating and managing e-NWRs.
   • They provide a framework for governance specific to this context.
3. Definitions:
   • Key terms include:
     • Governing Board: The board of directors of the repository.
     • Independent Director: Represents stakeholders’ interests in the commodity market without any conflict of interest.
     • Shareholder Director: Represents shareholders’ interests, elected or nominated by non-trading members or clearing members.
4. Composition of the Governing Board:
   • The governing board includes:
     • Shareholder Directors
     • Independent Directors
     • Managing Director
   • The non-executive Chairperson is appointed from among the Independent Directors.
   • The number of Independent Directors should preferably be equal to or more than the Shareholder Directors, with a minimum of three Independent Directors.

These guidelines ensure robust governance practices for repositories handling e-NWRs.

• Guidelines on Corporate Governance for the Repositories registered for Creation and Management of Electronic Negotiable Warehouse Receipts pdf (1031kb) [ download ]