The
Maharashtra State Co-Op.
Cotton Growers' Marketing Federation Ltd.
No.CTN/SS/2001/Broker/561
Date: 18-06-2001
CIRCULAR
Sub: Purchase of F.P. cotton bales against the outstanding brokerage bills.
We have received request from the Maharashtra Brokers Associataion to allow their member brokers to buy F.P. cotton bales as per price list against their outstanding finally payable brokerage bills. Taking into consideration this request it is decided, if any broker wants to buy F.P. cotton bales as per price list of the Federation then finally payable brokerage bills may be allowed to adjust against value of the purchase of F.P. cotton bales or EMD payble by them.
All
registred brokers are hereby informed to make a note of this newly extended
facility by the Federation and avail this with effect from 16-6-2001,
subject to following terms and cinditions.
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1
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Amount of outsanding brokerage bill will be considered equal to net payable amount as per finally sanctioned brokerage bill. |
|
2
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T.D.S will be deducted as per provissions of the Income Tax Act. |
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3
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This facility will be extended only in the name of broker whose brokerage bill is payable. |
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4
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Amount of brokerage bill will not be transferred from one account to another. |
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5
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While forwarding request for the purchases of the F.P. cotton bales against ourstanding brokerage bills, the concerned broker should submit a specific request letter for the adjustment of the brokerage outstanding amount alongwith the offer. |
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6
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Party accounts, Deptt. Mumbai 15 will issue receipts or I.R.O.(Internal Refund Order/ Payment intimation to the broker or utlising the brokerage outsanding amount as the case may be.) |
As directed by Hon. Managing Director
Sd\
General Manager (SS)
