Grant of licence to NCDEX Limited for establishment of E-Markets


Letter of Intent was issued to National Commodity and Derivatives Exchange (NCDEX) Spot Exchange Limited, Mumbai a Govt. of India Enterprise subject to fulfillment of the provisions of Andhra Pradesh (Agricultural Produce &Live Stock) Markets Act, 1966 and also fulfillment of implementation under sub rule (1)(iii) and(v) of Rule 53-B of Andhra Pradesh (Agricultural Produce and Live Stock) Markets Rules, 1969.

Further, the Commissioner and Director of Agricultural Marketing vide reference has stated that the National Commodity and Derivatives Exchange (NCDEX) Spot Exchange Limited, Mumbai while requesting for issue of licenses, they can commence the business using their Electronic Platform immediately from the Next month i.e., from Kharif season. The National Commodity and Derivatives Exchange (NCDEX) Spot Exchange Limited, has informed that necessary arrangements in the Ware Houses and other places will be taken up after they received the license but definitely before the commencement of actual business as has been the practice in other states and requested for issue of license for establishment of E-License.

The Commissioner and Director of Agricultural Marketing has therefore requested the Government to issue required license to National Commodity and Derivatives Exchange (NCDEX) Spot Exchange Limited,Mumbai, under section 7(8) of the Andhra Pradesh (Agricultural Produce and Live Stock) Markets Act, 1966 and Rule
53-B of Andhra Pradesh (Agricultural Produce and Live Stock) Markets Rules, 1969 for establishment of E-Market in Andhra Pradesh, subject to verification and Personal Inspection of necessary arrangements made in the Ware Houses and other places by the designated officers of the Marketing department before commencement of actual business, the National Commodity and Derivatives Exchange (NCDEX) Spot Exchange Limited, has to furnish the details of Ware Houses and other details for verification after obtaining the licenses to Commissioner and Director of Agricultural Marketing.

Government after examination of the report of the Commissioner & Director of Agricultural Marketing hereby grant license to National Commodity and Derivatives Exchange (NCDEX) Spot Exchange Ltd., Mumbai a Govt. of India Enterprise under Section 7(8) of the Andhra Pradesh (Agricultural Produce and Live Stock) Markets Act, 1966 and Rule 53-B(4) of Andhra Pradesh (Agricultural Produce and Live Stock) Markets Rules, 1969 to set up E-Market in Andhra Pradesh with Private

Investment and also informed that the grant of licence is subject to fulfillment of the provisions of Andhra Pradesh (Agricultural Produce and Live Stock) Markets Act, 1966 and also fulfillment of implementation under sub-rule (1) (iii) and (v) of Rule 53-B of Andhra Pradesh (Agricultural Produce and Live Stock) Markets Rules,1969 as amended in G.O.Ms.No.18, Agriculture & Cooperation Department, dated 4th February, 2013 for a period of Five Years in the Form 7-(D) prescribed under Rule-53-B(6) of Andhra Pradesh (Agricultural Produce &Live Stock) Market Rules,1969 appended to this order for establishment of E-Market in Andhra Pradesh subject to fulfillment of terms and conditions laid down under the said Act and the Rules made there under.

The Commissioner and Director of Agricultural Marketing, Hyderabad is requested to take further necessary action in the matter.

G.O.Rt.No. 1333 Dated: 07-11-2013

1.   G.O.Ms.No.18, Agri & Coop.(Mktg.IV) Dept., dated: 04-02-2013.
2.   From  the  Vice  President,  NCDEX  Spot  Exchange  ltd.
Representation  Dt.15-07-2013  through  the  C&DAM.,  A.P. Hyderabad, Lr.No.Projects/ 14954 /2013, Dated.22-07-2013
3.   Govt.Lr.No.9704/AM.IV/2013,dated 14-08-2013.
4.   From   the   Commissioner   and      Director   of   Agricultural
Marketing, A.P. Hyderabad Lr.No.Projects/14954/2013,dated
03-10-2013.

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