sebi:QJA/GR/MRD/MRD-SEC-3/31213/2024-25
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Facts / Headnote
Penalty imposed on ICCL under Section 15HB of SEBI Act, 1992 and Section 23GA of SCRA, 1956
Provisions invoked
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 23J
- s. 23
- s. 11B(2)
- s. 12A(2)
- s. 23G
Regulations
- Reg. 49
- Reg. 7(4)
- Reg. 7(4)(l)
Parties
- Indian Clearing Corporation Limited
Holding
ICCL was held liable for failing to maintain a correct and up-to-date IT asset inventory as required under clause 11 of the SEBI Cyber Security circular, and penalties of Rs. 5,00,000 under Section 15HB of the SEBI Act and Rs. 5,00,00,000 under Section 23GA of the SCRA were imposed.
Full text
Page 2 of 37 Order in the matter of Indian Clearing Corporation Limited and SEBI circular on ‘Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs)’ (SEBI/HO/MRD1/DTCS/CIR/PI/2021/33) dated Mar 22, 2021.
Page 3 of 37 Order in the matter of Indian Clearing Corporation Limited made in the said audit report were not closed in a time-bound manner. Therefore, it was alleged that ICCL has not closed the observations even after 6 months.
Page 4 of 37 Order in the matter of Indian Clearing Corporation Limited /Near Site (NS) and Primary Data Centre (PDC) shall have one to one correspondence between them. 3.4.1 From the information provided by the Noticee, i.e. the list of asset inventory containing configuration of primary servers (PDC) and disaster recovery servers (DRS), the asset list in PDC at S.No. 45 i.e. ‘VM server’ mentioned the configuration as 16 core 48 GB, whereas in the corresponding DRS the configuration mentioned as 16 core 32 GB. Hence, it was observed that there was no one to one correspondence between assets at DRS/NS and PDC due to different configuration.
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Source: SecMarx — sebi:QJA/GR/MRD/MRD-SEC-3/31213/2024-25. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.