Digital Representation of Appeal Requests · NCL/CMPL/76918

[Image omitted. See the official document.]

NSE Clearing Limited

Department: Compliance

| Download Ref No: NCL/CMPL/ 76918 | Date: October 15, 2026 | | Circular Ref. No: 32/2026 | |

To All Members/Custodians

Sub: - Digital representation of Appeal request

This is with reference to NCL/CMPL/69557 dated August 07, 2025 pursuant to SEBI circular SEBI/HO/MRD/POD-III/CIR/P/2025/112 dated August 05, 2025 on Review, Appeal or Waiver of penalty requests emanating out of actions taken by the Member Committee.

Reference is also drawn to NCL/CMPL/74821 dated June 23, 2026 wherein it was stated that any appeal preferred against the decision of the Member Committee, in terms of NCL/CMPL/69557 dated August 07, 2025, is required to be made not later than 45 calendar days from the date of intimation from NCL regarding the decision of the Member Committee. Any delay in seeking appeal shall be supported by justification for such delay and it shall be dealt with by the Appeal Panel constituted in terms of NCL/CMPL/69557 as deemed fit.

NCL has introduced digital representation of appeal requests received in view of the aforesaid NCL/CMPL/69557. Such digital representation of appeal may only be submitted for requests that were originally initiated through the portal (i.e. short allocation, short margin reporting, client collateral segregation, Margin Violation)

Members are requested to take note of the circular and ensure compliance with immediate effect.

Members may kindly refer to the user manual enclosed herewith as Annexure.

For and on behalf of
NSE Clearing Limited

Divya Potdar
Chief Manager

| Telephone No | Email id | | 1800 266 0050 IVR 2 | membermonitoring@nsccl.co.in |

Non-Confidential

---

Annexure

Part A – Steps for submitting Appeal Request

1. Login using following link: - https://ims.connect2nsccl.com/NCLMemberPortal/
2. Navigation: Login on Inspection Portal $\rightarrow$Statement Upload$\rightarrow$Penalties at NCL$\rightarrow$ Submission for Penalty Review Request

[Image omitted. See the official document.]

3. Upon clicking on “View Penalty Review Request”, the below screen shall be displayed, and members can view all the requests along with the current status. Members can also enter a specific case id to check in View Penalty Review Request screen.

[Image omitted. See the official document.]

4. If “Status” of the case ID is Rejected- Rationalization or Rejected- No Rationalization, then “Raise Appeal” button would be active in the “Appeal” column in grid, the below screen shall be displayed: -

Non-Confidential

---

[Image omitted. See the official document.]

5. Upon clicking on “Raise appeal” the below screen shall be displayed and all the mandatory fields with sign * should be mentioned for raising an appeal.

[Image omitted. See the official document.]

6. Members are mandatorily required to upload supporting document. To upload the supporting document, click on the “Choose File” button as displayed in the below screen. Members are requested to note that only single file is allowed at a time and Only pdf, excel, zip, jpeg, jpg file & Maximum 10 MB file size is allowed in this field.

[Image omitted. See the official document.]

Non-Confidential

---

7. Declaration checkbox would be mandatory to proceed ahead.

[Image omitted. See the official document.]

8. Upon completing all required fields, click on the “Submit Appeal” button as displayed in the below screen:

[Image omitted. See the official document.]

9. After successful validation, Success message would be displayed and appeal requests get raised.

[Image omitted. See the official document.]

10. Post raising of Appeal “View Appeal” button would be displayed in view appeal request column.

Non-Confidential

---

[Image omitted. See the official document.]

11. Upon clicking on the “View appeal” button, the below screen shall be displayed. At this stage, if the member wishes to provide additional supporting documents, the member shall click on the “Choose File” button as displayed in the below screen and click on the “Submit” button: -

[Image omitted. See the official document.]

12. Upon selecting “Submit”, the below screen shall be displayed: -

[Image omitted. See the official document.]

13. The decision of the appeal panel shall be communicated to members through portal.

Non-Confidential

---

Part B – Guidelines for submitting Supporting Documents

1. The file shall be in pdf, excel, zip, jpeg, jpg format only.
2. Multiple supporting documents can be submitted through single zip file. Alternatively, the members can upload individual files.
3. All supporting documentation shall adhere to generally accepted nomenclature standards.
4. File size shall not exceed 10MB.

Non-Confidential