The National Commodity & Derivatives Exchange Limited (NCDEX) on April 01, 2026, issued the Master Circular – Legal.
The following has been stated:
• The Master Circular is a consolidated document that compiles all relevant legal circulars and directions issued by the exchange and applicable SEBI provisions into a single reference framework for members.
• It aims to provide clarity and ease of compliance by bringing together all operational legal guidelines in one place. The circular clarifies that in case of any inconsistency, the provisions of the original underlying circulars will prevail over the master circular.
• It further states that any actions taken, proceedings initiated, or liabilities incurred under earlier or rescinded circulars will continue to remain valid and enforceable, ensuring continuity of legal and regulatory processes.
• Additionally, rights, obligations, penalties, and ongoing investigations under previous frameworks are preserved as if those circulars had not been rescinded.
• Overall, the circular serves as a comprehensive legal reference for exchange members while safeguarding past actions and ensuring regulatory consistency.
[Notification no. - NCDEX/Legal/01/2026]
