Registration of warehouse
Online Link to Act/Rule/Legislation
Initial Setup or Ongoing Maintenance
Initial Setup only
Filing and Maintenance Requirements
No person to commence business of warehousing without obtaining registration certificate from authorities under the Act. However the same is not required if the warehouse is not proposing to issue negotiable warehouse receipts.
Penalties have been prescribed for knowingly issuing
a negotiable warehouse receipt without taking the actual physical
delivery of the goods in his warehouse being imprisonment for a term which may extend to
three years or with fine which may extend to four times the value of
the goods or with both.
Application Guidelines / Responsible Persons / Comments
The application for registration under sub-section (1) shall be in such form and manner and shall be accompanied by such fees as may be prescribed.
The Authority may, after such enquiry and subject to such terms and conditions as it thinks fit, grant a certificate of registration of the warehouse in the prescribed form and bearing a registration number to the applicant authorising him to carry on the business of maintaining a warehouse or warehouses and to issue negotiable warehouse receipts.
(4) The Authority may not grant a certificate of registration under this section unless it is satisfied that the warehouse in respect of which the application has been made has adequate facilities and safeguards required to warehouse the goods of the nature specified in the application and the applicant satisfies the financial, managerial and other eligibility criteria and competence as may be prescribed:
Provided that no certificate of registration shall be refused to any applicant under this section unless the applicant has been given an opportunity of being heard.