The gold associated with the accumulations in your account is separate from the other assets of the SafeGold. IDBI Trusteeship Services Limited, an independent trustee, acts for and on your behalf. The gold purchased by the Company associated with the accumulations in your accounts is held with the Custodian. When you ask for delivery, the requisite quantity of gold will be removed from the Custodian and delivered to you through a reputed courier service. Since the Security Trustee has a charge over the gold, any unlikely adverse event happening to Company will not affect the gold associated with the accumulations in your account. Further, the title of the gold clearly rests with you and the physical gold stored with the Custodian on account of SafeGold customers is not an asset of SafeGold in any way.
What will happen to the gold associated with accumulations in my account, in the unlikely event of the SafeGold going into liquidation?
Modified on: Mon, 30 Sep, 2019 at 4:56 PM
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