Sebi imposes Rs 1 crore fine on CDSL

Mumbai: The Securities and Exchange Board of India(Sebi) has imposed a penalty of ₹1 crore on Central Depository Services (India) Ltd for cybersecurity and operational lapses that led to the malware attack in November 2022.

The regulator said that the depository failed to adequately secure critical systems despite enhanced regulatory requirements

However, Sebi did not impose any monetary penalty on CDSL's former Chief Information Security Officer Rajesh Nadkarni and former Chief Technology Officer Amit Mahajan.


The matter relates to the November 18, 2022 malware attack that disrupted CDSL's critical depository operations, forcing the depository to isolate its systems from the market. The regulator alleged that the malware attack disrupted several critical depository functions.

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