Circular No. 712/28/2003-CX I am directed to say that PAC in its 39th Report has given certain recommendations on para 2.5 and 2.6 of C&AG Report for the year 1998-99 relating to inordinate delay for recovery of confirmed demands and non-adjudication of demands. Simultaneously Board is also deeply concerned about the large number of cases pending adjudication at various levels.
Regulations, 1992 either directly or through the concerned stock exchange do not provide important details required for expeditiously crediting the drafts to the account of the concerned Broker / Sub-broker. This results in avoidable correspondences and delay in crediting these drafts.
