Section 6 in The Warehousing Development and Regulatory Authority (Negotiable Warehouse Receipts) Regulations, 2011
6. Surrender of unused Negotiable Warehouse Receipt Book
(1)A warehouseman shall surrender a negotiable warehouse receipt book issued by the Authority immediately and not later than fifteen days In the following cases,-(i)from the date the registration of the warehouse has expired;(ii)from the date the registration of the warehouse has been suspended, cancelled, revoked or surrendered,(iii)from the date the warehouse is being closed temporarily for a period more than ninety days (otherwise than due to occurrence of a force majeure), or being closed permanently by the warehouseman; or(iv)any other reason as speCified by the Authority in writing(2)After the date of the suspenSion, cancellation or revocation of registration of the warehouseman, the warehouseman shall not issue any negotiable warehouse receipts for such warehouse(3)In the event that the warehouseman issues any negotiable warehouse receipt after the date of the suspenSion, cancellation or revocation, he shall be liable for Civil and criminal penalties under the Act, as the case may be
