NSDL's Settlement with SEBI: A Major Milestone

The National Securities Depository Ltd (NSDL) settled a regulatory case with SEBI for Rs 3.12 crore following alleged depository rules violations. NSDL resolved the issue without admitting liability. This development coincides with the go-ahead for NSDL's IPO, paving the way for a significant shareholder offer.


Devdiscourse News Desk | New Delhi | Updated: 17-10-2024 18:14 IST | Created: 17-10-2024 18:14 IST
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The National Securities Depository Ltd (NSDL) finalized a settlement with the Securities and Exchange Board of India (SEBI) over an alleged infraction of depository rules, concluding the matter by paying a settlement of Rs 3.12 crore.

According to SEBI, NSDL was able to resolve the case regarding potential breaches under the Sebi (Depositories and Participants) Regulations, 2018, without conceding to any liability. The primary accused violations involved a delay in addressing participant grievances and non-compliance with the regulatory Code of Conduct.

The timing of this settlement is pivotal, as NSDL prepares for a complete offer for sale IPO, encompassing over 5.72 crore equity shares held by stakeholders such as NSE, SBI, and HDFC Bank. This IPO follows just over a year after NSDL initially filed for regulatory approval in July 2023.

(With inputs from agencies.)

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