The National Bulk Handling Corporation Ltd (NBHC) today sought to allay concerns of users of its services, saying its exposure in National Spot Exchange Ltd (NSEL) warehouses is less than 3 per cent.
NBHC does not handle NSEL’s warehouses except for stocks at five facilities which were recently taken over, NBHC said in a statement, adding that the stock belonging to NSEL comprises less than 3 per cent of the total stock being handled by it.
The company has not been empanelled with NSEL for managing the latter’s warehouses /depositary facilities.
More specifically since June/July 2013, related services of managing stocks at five warehouses have been taken over, constituting at any point in time less than 3 per cent of the entire stocks managed by NBHC.
There is absolutely no reason for any of the users of NBHC’s services, the eco-system participants or anyone to have any apprehension regarding NBHC and its services, in any manner whatsoever, the company said.
NBHC offers integrated services in commodity and collateral management, with pan-India operations and offers services to all ecosystem participants.
Its services include inter-alia supply chain management, warehousing, collateral management, quality assaying, control and certification, commodity and commercial pest management, audit, surveillance and valuation, etc.
The value of the stock in the warehouses managed by the company as at August 19 are approximately Rs 6,500 crore across locations in 19 states.