Attention of members is drawn to SEBI’s Circular No. SEBI/HO/MRD/POD 3/CIR/P/2023/58 on ‘Issue of Master Circular by Stock Exchanges, Clearing Corporations and Depositories’ dated April 20, 2023. Members are aware that ICCL had issued segment wise Master Circulars in accordance with the aforesaid SEBI circular. This Master Circular is published on ICCL’s website under ‘Home>Downloads>Notices’ section.

Members are hereby informed that the master circulars are being reviewed and updated, as required. Accordingly, the Master Circular on Debt Segment, updated till July 31, 2024 is attached herewith as Annexure-1.

In case of any inconsistency between the Master Circular and the applicable Notice, readers / users should refer to the relevant notice. This Master Circular shall be effective from the date of its issue. The Notices issued prior to this master circular and the existing master circular relevant to the segment shall stand rescinded with the issuance of the Master Circular.

“Notwithstanding such rescission,

a)  Anything done or any action taken or purported to have been done or contemplated under the rescinded guidelines before the commencement of this Master Circular shall be deemed to have been done or taken or commenced or contemplated under the corresponding provisions of the Master Circular or rescinded guidelines whichever is applicable.

b) The previous operation of the rescinded guidelines or anything duly done or suffered thereunder, any right, privilege, obligation or liability acquired, accrued or incurred under the rescinded guidelines, any penalty, incurred in respect of any violation committed against the rescinded guidelines, or any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty as aforesaid, shall remain unaffected as if the rescinded guidelines have never been rescinded.”

Members are hereby requested to take note of the above. Contact details are given below, in case any clarification is required: 

 For Indian Clearing Corporation Limited                   

 Akshat Chaturvedi                                                            Anita Bhatia                     

Head of Operations- Clearing and Settlement               Chief Regulatory and Compliance Officer