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Defaults Committee

             

            Pending investors’ complaints of a member is referred to Defaults Committee when a Member is declared as defaulter. When the card is auctioned, the defaults committee examines the claims and usually a report is submitted to the Council of Management for taking the final decision.

 

  • General basic facts taking into consideration are:-

  • Bi-weekly pay-in due to CSE

  • Weekly pay-in due to CSE

  • Bad-delivery pay-in due to CSE

  • Office Dues

  • Date of Declaration as Defaulter

  • Date of Auction

  • Auction Amount

  • Amount in the credit of Members Fund

  • Amount in the credit of Building Fund

  • Deposits with the Finance Dept

  • Number of claims against the Defaulted Member

           In addition to the above dues as shown by the records of CSE the following further amounts may be provided for other dues to CSE.

  • Infrastructure contribution (Limited to the unrecovered portion of the Building Fund)

  • Provision for legal, advertisement and other Allied costs

  • Collection charges as per the Bye-law “337” of CSE

  • Interest calculated @2% p.m. on daily product method from dates since pay-in due to date of Auction

  • Fine ( as per the Bye-Law 350 & 351 of CSE)

The claims of the defaulted member is settled as per Bye-law No.338 of CSE

 

The member was asked to produce the statement of accounts in respect of his debtors and creditors on account of share transaction carried out by him through Cochin Stock Exchange.

Cochin Stock Exchange, Kochi, India