SEBI Fines BSE’s ICCL ₹5 Crore for Regulatory Violations
The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹5.05 crore on the Indian Clearing Corporation Ltd. (ICCL), a subsidiary of BSE Ltd., for regulatory violations. The penalty follows an inspection that revealed non-compliance with SEBI’s cybersecurity framework, IT asset management, and disaster recovery protocols. SEBI found that ICCL failed to maintain an updated inventory of critical IT assets, delayed resolving audit observations, and did not ensure proper alignment between its Disaster Recovery Site (DRS) and Primary Data Centre (PDC). Despite ICCL’s defense that the lapses were technical and did not harm investors, SEBI deemed the violations serious enough to warrant a financial penalty.
SEBI imposed a total penalty of ₹5.05 crore, divided as follows,
| Summary/Static | Details |
| Why in the news? | SEBI Fines BSE’s ICCL ₹5 Crore for Regulatory Violations |
| Regulator | SEBI (Securities and Exchange Board of India) |
| Entity Penalized | Indian Clearing Corporation Ltd. (ICCL), a BSE subsidiary |
| Total Penalty Amount | ₹5.05 crore |
| Main Violations | IT asset management failures, cybersecurity framework non-compliance, disaster recovery system deficiencies |
| Inspection Period | December 2022 – July 2023 |
| ICCL’s Defense | Lapses were technical, corrective actions taken, no harm to investors |
| SEBI’s Decision | Violations were serious, undermining market integrity |
| Penalty Breakdown | ₹5 lakh under SEBI Act, ₹5 crore under SCRA |
| Payment Deadline | 45 days from order receipt |
IndiGo Airlines is one of India’s most popular and trusted airlines. It is known for…
Many countries have different names in different languages. One such country is Germany, which is…
Northeast India is a region full of beautiful landscapes, green forests and rich culture. A…
Jharkhand, a state in eastern India, has a well-developed railway network that connects it to…
Haryana is a well-developed state with a strong railway network that connects many important cities.…
India’s largest airline, IndiGo, has witnessed widespread flight cancellations and delays, affecting thousands of travellers…