SEBI Appoints Sequel as the First Vault Manager for the Domestic Gold Spot Exchange.

Precious Commodities

Vaulting

With one of the largest network of high-grade vaults, which are audited and approved by banks, insurance companies and independent audit bodies, we assure complete peace of mind to our clients. While our security and infrastructure experts work and rework on every detail of layout, equipment, process and procedures, our business managers ensure that our vaults are not only in the relevant cities, but are also at convenient locations within the city, to ensure fastest turnaround for our customers. Our vaults across the world are equipped with the most advanced locking and surveillance systems.
  • 6" High Density RCC Walls
  • Custom Made Defender Safe
  • Mechanical Timer Locked Doors
  • Hydraulic Automatic Doors
  • Restricted Key-ways
  • Interlocking Steel Doors
  • Bulletproof Glass
  • Movement Detection
  • Smoke Sensors
  • Bio-metric & Remote-Controlled Access
  • Panic Switches & Alarm System

APPROVED VAULT MANAGER

AT GIFT CITY AND FOR DOMESTIC

SPOT EXCHANGE

Secure Transportation

Movement of heavy duty precious metals, dore bars, banknotes and credit cards, in the most compliant and secure manner, to protect our client’s commercial and reputational risks, is what we manage and deliver every single day. Changing economic conditions and volatile metal markets further increases the complexity of this sensitive supply chain. Our security and risk management processes are constantly audited, reviewed and refined, to neutralise evolving threats, and meet the unique requirements of our clients. We are the only company to be certified by ISO 39001 and RJC, which is a testimony to both our capability and our commitment.
Pick and Pack
Given the sensitivity and security risks involved in the handling and accounting of Precious Commodities, we follow processes that are in complete compliance as mandated by the most reputed financial institutions, insurance auditors and security audit bodies. This allows us to perform and deliver various value added services to our clients at our facilities, and provide them substantial benefits of improved value and faster turnaround.

IFSCA Registered Vault Manager

Sequel is the first IFSCA registered Vault Manager for India International Bullion Exchange at GIFT City. Sequel will play a crucial and pivotal role in the Bullion Exchange, which is the “Gateway for Bullion Imports into India”. All the bullion imports for domestic consumption are channelized through the exchange. The Vault Manager is registered and regulated as SEBI intermediary, for providing vaulting services meant for bullion deposited to create Electronic Gold Receipts (EGR).
Criteria for appointment of Vault Manager
  • Vault Manager should be a corporate body incorporated in India
  • Vault Manager should have a net worth of at least Rs 50 crores
  • Vault Manager should have an impeccable ‘Fit & Proper’ track record with vast expertise and experience in managing critical vaulting and logistics operations
Obligations of a Vault Manager
  • Accepting deposits
  • Storage and safekeeping of bullion
  • Creation of EGR
  • Withdrawal of bullion
  • Grievance redressal
  • Periodic reconciliation of physical bullion

Free Trade Warehousing Zones and Bullion Trading

Free Trade Warehousing Zones (FTWZ)
Free trade warehousing zones are strategically located premises treated as international zones which enable the trading and storage of goods on behalf of foreign or domestic clients. FTWZ provides efficient connectivity via road, rail, air, and sea. Within the geography of India, it acts as a deemed foreign territory.
Free Trade Warehousing Zones in India fall under Special Economic Zones Act, 2005, and the Special Economic Zones Rules, 2006. The Ministry of Commerce and Industries is involved in clarifying various operational aspects of FTWZ.
Benefits of a Free Trade Warehousing Zone
  • Service tax exemption
  • Deferred customs duty payment
  • Benefits of export when transferring goods from Domestic Tariff Area (DTA) to FTWZ
  • Hassle-free re-export, re-sale, and re-invoice of goods
Sequel’s facilities at Kandla and Gift City - Gateways for Import and Long-Term Storage of Bullion

Sequel's Free Trade Warehouses

Sequel's Warehouse at Kandla SEZ, Gujarat

Sequel's Warehouse at GIFT City SEZ, Gujarat

Sequel has precious commodities storage facilities at two Free Trade Warehousing Zones (Kandla and GIFT City) in India. Both facilities are audited and approved by most major international suppliers for precious metal storage and are strategically positioned in such a way as to cater to the major precious metals manufacturing units in Gujarat, Rajasthan, Maharashtra, Agra, and Uttar Pradesh. Sequel’s free trade warehouses are utilized by major international banks, financial institutions, manufacturing units, traders, and suppliers. These warehouses are specially designed to handle precious commodities and to facilitate international trade of bullion.
The centrally and locally monitored facility of Sequel enables the hassle-free handling of precious commodities with world-class physical and electronic security. Sequel offers prompt delivery to all metros and large cities from the warehouses at Kandla and GIFT City.
How Sequel adds value to bullion trading through its two Free Trade Warehousing Zones
  • Long term storage of imported goods
  • Insulated from duty fluctuations
  • Provision to store both gold and silver
  • Located at IFSC – GIFT City
  • Efficient inventory management
  • Geographical proximity to important manufacturing hubs
  • Connectivity to major cities via different modes of transportation
  • Strategic partnerships with International Logistics Companies
  • Lower total transaction and transportation cost
  • Duty exemption on re-export

First SEBI approved Vault Manager for the Domestic Gold Spot Exchange

Securities and Exchange Board of India (SEBI) has granted approval to Sequel Logistics Private Limited for carrying out activities as a Vault Manager for the domestic gold spot exchange. The certificate of registration provides recognition to 18 High-Grade Vaults of Sequel to provide vaulting services as defined in SEBI (Vault Managers) Regulations, 2021.
Criteria for appointment as a Vault Manager
  • The Vault Manager shall be a body incorporated in India.
  • The Vault Manager shall have a minimum net worth of fifty crores rupees.
  • The Vault Manager shall have the infrastructure for safe deposit, storage and withdrawal of gold.
  • The Vault Manager shall have adequate insurance to cover losses.
  • The Vault Manager shall have adequate and competent persons employed who have the required experience, knowledge and ability for managing the business of the Vault Manager.
  • The Vault Manager shall fulfil the fit and proper criteria as specified by SEBI.
  • The Vault Manager shall have a Standard Operating Procedure (SOP) in respect of all the recognized vaults.
Role of Sequel as the Vault Manager
Deposit of Gold
Seller of gold on the spot exchange shall first deposit the gold with Sequel for conversion into Electronic Gold Receipts (EGRs). An EGR cannot be created without underlying physical gold. Sequel shall check the gold standard, weigh the gold bars and check necessary documentation. At the time of the deposit, Sequel shall furnish acknowledgement receipt to the depositor and collects appropriate documentation to ensure that the gold is traceable.
Creation of Electronic Gold Receipt (EGR)
EGRs will be traded on domestic exchanges as a security instrument. Every Vault Manager registered with SEBI shall have a common interface with the depository for the creation and extinguishment of Electronic Gold Receipts. Upon acceptance of the gold from the depositor, an Electronic Gold Receipt shall get created in the name of such depositor as beneficial owner. Sequel shall ensure that the information captured at the time of creation of Electronic Gold Receipt is accurate. There will be strict procedures in place for periodic reconciliation of physical gold with the corresponding record of Electronic Gold Receipts maintained by Sequel and the depositories.
Withdrawal of Gold
EGR may change multiple hands before the buyer opts to rematerialize it by taking physical delivery of gold from Sequel. A beneficial owner seeking to withdraw gold from the vault shall place a request with the depository. The depository, after satisfying the payment of charges due to Sequel, shall intimate its approval for withdrawal of gold to Sequel. After receiving instructions from the depository, Sequel shall hand over the gold and extinguish the Electronic Gold Receipt(s), subject to the beneficial owner producing acknowledgement of receipt and such other documents as specified by Sequel.

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