National Securities Depository (NSDL) has resolved regulatory compliance issues with the Securities and Exchange Board of India (SEBI) through a settlement payment of ₹155.8 million. The violations were identified during a SEBI inspection conducted in the financial year 2023-24.

Settlement Details

The settlement amount reflects NSDL's approach to resolving regulatory matters efficiently rather than pursuing lengthy legal proceedings. SEBI's inspection process in FY 2023-24 identified specific rule violations that required remedial action from the depository.

Regulatory Compliance Framework

As one of India's primary depositories, NSDL operates under strict regulatory oversight from SEBI. The settlement mechanism allows companies to resolve violations without admitting or denying the charges, providing a pathway for swift resolution of compliance matters.

Impact on Operations

The settlement enables NSDL to continue its operations without the uncertainty of ongoing regulatory proceedings. This resolution demonstrates the company's commitment to maintaining regulatory compliance while focusing on its core depository services in India's capital markets infrastructure.

National Securities Depository (NSDL) has received approval from the Securities and Exchange Board of India (SEBI) for the re-appointment of Mr. Sanjay Panicker as a Non-Independent Director on its Governing Board. The approval, effective from September 29, 2025, was communicated to NSDL via a SEBI letter dated November 21, 2025.

Key Details of the Re-appointment

About Sanjay Panicker

Mr. Panicker brings a wealth of experience to his role at NSDL:

• Educational Background:

  • Bachelor's degree in Mechanical Engineering from the University of Pune
  • MBA from the University of Pune
  • Post-graduate diploma in Financial Analysis from the Institute of Chartered Financial Analysts of India
  • Certified Associate of the Indian Institute of Banking & Finance

• Professional Experience:

  • Over 28 years in corporate finance and accounts
  • Currently serves as Executive Director at IDBI Bank Limited
  • Previously associated with Vans Information and Investor Services Limited

Implications for NSDL

The re-appointment of Mr. Panicker, with his extensive experience in corporate finance and banking, signifies NSDL's commitment to maintaining strong governance and financial expertise on its board. His continued presence is likely to contribute to the strategic direction and financial oversight of the organization.

This development underscores the importance of experienced leadership in India's securities depository system, which plays a crucial role in the country's financial markets infrastructure.

NSDL has duly informed the BSE Limited of this re-appointment, in compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

For more information, interested parties can visit the NSDL website at https://nsdl.co.in/ .