SEBI imposes ₹1 crore fine on CDSL for multiple compliance lapses
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- ✓Market regulator SEBI on Friday imposed a ₹1 crore fine on Central Depository Services (India) Ltd for multiple compliance lapses.
- ✓The regulator found that CDSL failed to share reasons for rejecting pledge requests and had shortcomings in disaster recovery drills.
- ✓CDSL must pay this penalty within 45 days from now.
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- MARKET
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- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
CDSL had failed communicate reasons for rejection of pledge requests to the depository participants of both the pledgor and pledgee, SEBI said
Market regulator SEBI on Friday imposed a penalty of ₹1 crore on Central Depository Services (India) Ltd (CDSL) for multiple compliance lapses, including failure to communicate reasons for rejection of pledge requests to the depository participants (DPs) of both the pledgor and pledgee and shortcomings in disaster recovery drills.
CDSL has been directed to pay the penalty within 45 days, failing which recovery proceedings may be initiated.
In its 102-page order, SEBI said CDSL had violated several regulatory requirements during FY2023-24, following an inspection of its operations.
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