issued by NBHC against this stock”. It also reiterated that it doesn’t handle NSEL stocks.
“The assignment was just to manage the warehouses. It has since the end of August given back these warehouses to NSEL along with the balance stocks. As of date, NBHC carries stocks worth R65 lakh on behalf of NSEL,” it said in a statement.
Across locations in 19 states of India, NBHC manages about R5,500 crore worth of stocks, of which about R4,200 crore of stocks are funded by banks to the respective commodity owners, (farmers, processors, traders etc) after the respective bank’s independent audit and due diligence. It manages warehouses/storage facilities for about 42 banks. It also provides storage facilities to the corporates, farmers, processors, traders, among others, and acts as a warehousing service provider for FTIL-promoted MCX, which makes for about 5-7% of NBHC’s total stock usually.
“Most of the banks have conducted/are conducting audits of their stocks in NBHC’s warehouses and no deviations have been found. All NBHC’s clients are from the commodity space, and are quite familiar with the ecosystem of commodity warehousing. Clients are welcome to visit the warehouses to check their stocks, to quell any fears whatsoever,” it said.