Warehousing Development and Regulation Authority

WDRA: Warehousing Development and Regulation Authority

WDRA that stands for Warehousing Development and Regulation Authority came to be established with the coming into effect of the Warehousing (Development and Regulation) Act, 2007 on 25 October 2010. The Authority came into effect from 26th October 2010 with the publication of the relevant notification in the official Gazette.

The Indian Parliament had enacted the Warehousing Development and Regulation Act in September 2007. The Act apart from mandating the negotiability of warehouse receipt, also mentions the form and manner of registration of warehouses. The Act also mentions the establishment of the Warehousing Development and Regulation Authority. The Act specifies that the Authority would have a Chairperson and not more than two members. The Authority will register and accredit warehouses and will establish a system of quality certification and grading of commodities with an objective to protecting the interests of holders of warehouse receipts against negligence, malpractices and fraud.