NSEL e-series investor’s concern

All of you already know about NSEL (National Spot Exchange Ltd) payment crisis about 5600 crore through media. Investor now worried about their respective e-series metal holding like e-gold, e-silver etc with NSEL. From 6 August, 2013 the trading in NSEL is totally close. It is the main concern for investors.

Earlier, Investors were told that they could take physical delivery if they wanted to close their position. Even de-mat account with many brokers is not reflecting the holding position of e-series metal. Due to inordinate delay in physical delivery, people are now questioning if there are enough gold and silver stock. NSEL staffs are also not replying proper about delay in future.

So now it is very important to know the procedure of converting e-series unit into physical delivery. Today we will discuss about this.

Procedure for Physical of e-series

• ·         The investor have to submit Delivery Instruction Slip (DIS) to the Depositary Participant (DP) along with the Surrender Request Form (SRF).
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• ·         The DP transfers the e-series unit to the account of NSEL based on DIS.
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• ·         DP then attest the signature of the investor on the Transfer Request Form (TRF) and handover the same to investor along with the acknowledge of the DIS.
• ·         The investor now submit DIS and SRF to the exchange specifying the centre of his choice from where he wants to take delivery.
• ·         The Unit holder shall fax the SRF and DIS acknowledgement to the exchange at fax no: 022-67269524 / 022-67619931 or mail to scanned copy at nsel_dp@nationalspotexchange.com
• ·         After receipt of the copy of DIS and SRF, exchange compute the making and packaging charges, Delivery charges, VAT/GST/CST and other dues , if any.
• ·         The Exchange then communicate the total amount due to investor through the email id provided in SRF. The client then required to make such payment through the DD/Cheque in the favour of “National Spot Exchange Ltd.”

In case the payment is more than Rs 50,000 the payment will be accepted by DD (demand draft) only.

For receive the delivery, the client is required to submit the original SRF and proof of identity at the delivery center.

At present the delivery center of NSEL are KOLKATA, CHENNAI, HYDERABAD, JAIPUR, MUMBAI, AHMEDABAD, DELHI, KOCHI, BANGALORE.

For more detail about any other query related investment, you can contact me through my email.

Warm regards,

Arvind Trivedi , Certified Financial Planner

Arvind.trivedi79@gmail.com