Powers and Functions of the Authority

POWERS AND FUNCTIONS OF AUTHORITY

Chapter (vi) of Warehousing Development And Regulation Act 2007 provides the powers and functions of authority as under:-Powers and functions of Authority. -

1) Subject to the provisions of this Act and any other law for the time being in force, the Authority shall have the duty to regulate and ensure implementation of the provisions of this Act and promote orderly growth of the warehousing business.

(2) Without prejudice to the generality of the foregoing provisions, the powers and functions of the Authority shall include the following, namely: -

  • (a) to issue to the applicants fulfilling the requirements for warehousemen a certificate of registration in respect of warehouses, or renew, modify, withdraw, suspend or cancel such registration;
  • (b) to regulate the registration and functioning of accreditation agency, renew, modify, withdraw, suspend or cancel such registration, and specify the code of conduct for officials of accreditation agencies for accreditation of the warehouses;
  • (c) to specify the qualifications, code of conduct and practical training for warehousemen and staff engaged in warehousing business;
  • (d) to regulate the process of pledge, creation of charges and enforcement thereof in respect of goods deposited with the warehouse;
  • (e) to promote efficiency in conduct of warehouse business;
  • (f) to make regulations laying down the standards for approval of certifying agencies for grading of goods;
  • (g) to promote professional organizations connected with the warehousing business;
  • (h) to determine the rate of, and levy, the fees and other charges for carrying out the provisions of this Act;
  • (i) to call for information from, undertaking inspection of, conducting enquiries and investigation including audit of the warehouses, accreditation agencies and other organizations connected with the warehousing business;
  • (j) to regulate the rates, advantages, terms and conditions that may be offered by warehousemen in respect of warehousing business;
  • (k) to specify, by regulations, the form and manner in which books of account shall be maintained and statement of accounts shall be rendered by warehousemen;
  • (l) to maintain a panel of arbitrators and to nominate arbitrators from such panel in disputes between warehouses and warehouse receipt holders;
  • (m) to regulate and develop electronic system of holding and transfer of credit balances of fungible goods deposited in the warehouses;
  • (n) to determine the minimum percentage of space to be kept reserved for storage of agricultural commodities in a registered warehouse;
  • (o) to specify the duties and responsibilities of the warehouseman;
  • (p) to exercise such other powers and perform such other functions as may be prescribed.
Composition of the Authority

The Warehousing Development and Regulatory Authority (WDRA) was constituted on 26.10.2010 under the Warehousing (Development and Regulation) Act, 2007 vide Government of India Gazette Notification dated 26th October 2010. The Act provides for the establishment of the WDRA to exercise the powers conferred on it and to perform the functions assigned to it under the Act, Rules and Regulations for the development and regulation of warehouses, negotiability of warehouse receipts and promote orderly growth of the warehousing business in the country

The WDRA is a Statutory Authority under the Department of Food and Public Distribution, Government of India. The Authority has its Headquarters in New Delhi.

The Authority consists of a Chairperson and two Members appointed by the Central Government. Present Composition of the Authority is as follows:

1. Shri Petluri Srinivas, Member

Shri P. Srinivas joined as Member, WDRA on 10.01.2017. Shri Srinivas was Managing Director and Chief Executive Officer of United Bank of India from 31.12.2014 to 30.06.2016. He was a Rank Holder in B.E. (Mechanical Engg with Marine as Elective) from Andhra University, Vishakhapatnam and P.G. Diploma holder in Human Resources from IGNOU, New Delhi.

Shri P. Srinivas joined Andhra Bank as a Probationary Officer in November 1978 and has worked till June 2012 as General Manager. On promotion, he took charge as Executive Director, Bank of Baroda till he joined as MD & CEO, United Bank of India.

Shri Srinivas was also the Nominee Director on India First Life Insurance Company Limited, a Joint venture promoted by Andhra Bank, Bank of Baroda and Legal & General. He was also on the Board of National Payments Corporation of India. Shri Srinivas served as a Nominee Director on National Insurance Company Limited.