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NSDL Circular No: NSDL/CIR/II/07/2017 (07-Jun-17) Amendment to Business Rules -Penalty structure for Participants

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Circular No.: NSDL/CIR/II/07/2017

All Issuers/R&T Agents are hereby informed that Rule 18.1.1of Business Rules of NSDL is amended.

The additions to the Rule 18.1.1 is given below:

Sr. No. Nature of Non-Compliance Penal Action in Rs./Action
I Operational Deviations
14. Delivery Instruction Slip (DIS) not Scanned and upload in System provided by NSDL. a) If the deviation is observed in the first month - penalty of Rs.100 per DIS to be imposed with a maximum cap of Rs.10,000. b) If the deviation is observed in the second consecutive month, a penalty of Rs. 150 per DIS to be imposed with a maximum cap of Rs.15,000. If total monetary penalty imposed under this head is more or equal to Rs.50,000 during one financial year, matter would be referred to Disciplinary Action Committee (DAC).

All R&T Agents are requested to inform their client companies accordingly.

For and on behalf of National Securities Depository Limited

Nitin Ambure

Vice President

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