CDSL notified regarding Penalty for Not Scanning and Uploading of DIS

The Central Depository Services (India) Limited (CDSL) on August 01, 2024, notified regarding the Penalty for Not Scanning and Uploading of DIS.

The following has been stated:

• The DPs are once again advised to note that in case of failure to scan and upload images of DIS in the CDSL system within the stipulated time, penalty will be levied for the pending scanning & uploading of such DIS cases as per Chapter 11: Annexure 11.1 of CDSL’s DP Operating Instructions as under:

o If the deviation is observed in the first month - penalty of ₹200/- per DIS to be imposed with a maximum cap of ₹20,000/-

o If the deviation is observed in the Second consecutive month - a penalty of ₹300/- per DIS to be imposed with a maximum cap of ₹30,000/-

o If total monetary penalty imposed under this head is more or equal to ₹1,00,000/- during 1 financial year, matter would be referred to Member Committee.

• The DPs are advised to scan and upload the images of DIS executed during the day in the CDSL system by the next working day without fail to avoid penal action.

[Notification No CDSL/A, I&C/DP/POLCY/2024/428]