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NSDL settles depository violation rule case with Sebi; pays Rs 3.12 crore

Business Standard LogoBusiness Standard6h ago

NSDL settles depository violation rule case with Sebi; pays Rs 3.12 crore - Business Standard

Quick Summary:

This came after NSDL proposed to settle the case involving alleged violations of rules specified under the Sebi (Depositories and Participants) Regulations, 2018 "without admitting or denying the findings of facts" through a settlement order.

The National Securities Depository Ltd (NSDL) on Thursday settled a case pertaining to alleged violation of depository rules with markets regulator Sebi after paying Rs 3.12 crore towards settlement amount.

NSDL was accused of failing to address grievances from participants and beneficial owners within 30 days, as required by Regulation 7(g) and breaching clauses of the Code of Conduct under the same regulations, both before and after August 28, 2023.

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Article Details

Category: BusinessFinance

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 19:38:38 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 463 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23104223

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