NSDL pays ₹15.58cr to SEBI for breaking rules—here's what went down
NSDL, the company that keeps track of your digital shares, just paid a hefty ₹15.58 crore to settle things with India's market regulator, SEBI.
This happened after SEBI found NSDL had broken several rules—like taking way too long (sometimes up to 77 days) to freeze or unfreeze important accounts and even using backdated contracts.
What exactly did NSDL mess up?
SEBI's inspection flagged delays in freezing/unfreezing both promoter and client accounts, slow action on key IT agreements, and not converting demat accounts into simpler BSDA ones when they should have.
There were also issues with how unpaid securities were handled for clients—basically, a bunch of deadlines missed.
So what happens now?
SEBI reviewed the case for months before agreeing to settle—but they're keeping an eye out.
If NSDL hides anything or breaks the settlement terms, SEBI can reopen the case.
For now though, it looks like both sides are ready to move on—unless something new pops up.