SEBI vide circular dated 06.01.2021 has directed all exchanges that on approval of application for surrender of Trading Member’s registration by SEBI, the Exchange shall release Security Deposit within:
- Three years from the date of receipt of surrender application by Exchange from the Trading Member (in order to meet any investor claims), or Five years from the date of disablement of Trading Member’s trading terminals by the Exchange in case of Trading Member engaged in trading on behalf of clients.
- one year from the date of receipt of surrender application by exchange from the Trading Member, or three years from the date of disablement of Trading Member’s trading terminals by the Exchange in case of Trading Member engaged only in proprietary trading in last three years prior to the date of application.
