Description

NSE Clearing mandates all penalty review requests to be raised through the new portal (https://ims.connect2nsccl.com/NCLMemberPortal/) effective immediately, with the old portal to be deactivated shortly.

Summary

NSE Clearing Limited has mandated the use of a new portal for submitting penalty review requests. All penalty review requests raised after December 24, 2025 must be submitted through the new portal at https://ims.connect2nsccl.com/NCLMemberPortal/. The facility to raise penalty review requests in the old portal will be disabled/deactivated shortly. Existing review requests raised in the old portal will continue to be processed through the old portal.

Key Points

  • New portal URL: https://ims.connect2nsccl.com/NCLMemberPortal/
  • All penalty review requests after December 24, 2025 must use the new portal
  • Old portal will be deactivated shortly for new submissions
  • Existing requests in old portal will continue processing there
  • Circular provides detailed step-by-step guidance for submission and viewing requests
  • Auto-generated Case IDs format: MM_[PENALTY_TYPE]_[NUMBER] (e.g., MM_NONSUB_01)
  • Previous circulars referenced: NCL/CMPL/60651 (Feb 12, 2024) and NCL/CMPL/66692 (Feb 14, 2025)

Regulatory Changes

Mandatory migration from old penalty review portal to new portal (https://ims.connect2nsccl.com/NCLMemberPortal/). The old portal functionality for raising new penalty review requests will be disabled/deactivated shortly, though existing requests will continue processing.

Compliance Requirements

  • All members/custodians must submit penalty review requests through the new portal effective immediately
  • Mandatory fields for submission include:
    • Type of Penalty
    • Total Penalty Amount
    • Contact details
    • Email address
    • Attachment (sample format available for download)
  • Supporting documents must be uploaded as per the type of penalty review request
  • Members must login via https://inspection.nseindia.com/MemberPortal/ to access the submission portal
  • Navigation path: Login on Inspection Portal → Statement Upload → Penalties at NCL → Submission for Penalty Review Request
  • Case ID will be generated only for successful submissions; no Case ID for failure files

Important Dates

  • December 24, 2025: Circular issuance date; new portal becomes mandatory for all new penalty review requests
  • Shortly after December 24, 2025: Old portal will be disabled/deactivated for new submissions
  • February 12, 2024: Original circular NCL/CMPL/60651 introducing digital representation
  • February 14, 2025: FAQ circular NCL/CMPL/66692 issued

Impact Assessment

Operational Impact: High - All members and custodians must immediately adapt to the new portal system for penalty review requests. This represents a critical operational change affecting compliance and penalty management processes.

Process Impact: Members need to familiarize themselves with the new portal interface, mandatory fields, and submission procedures. The new system includes auto-populated fields (member code, member name, date), tooltip guidance, and automated Case ID generation.

Technical Impact: The new portal is accessed through a different URL (https://ims.connect2nsccl.com/NCLMemberPortal/) than the login portal (https://inspection.nseindia.com/MemberPortal/), requiring members to understand the navigation flow.

Support: Contact available via toll-free number 1800 266 0050 IVR 2 and email membermonitoring@nsccl.co.in. Detailed annexures provide step-by-step guidance for both submission (Annexure 1) and viewing (Annexure 2) of penalty review requests.

Impact Justification

Mandatory operational change requiring all members to transition to new portal for penalty review submissions; old portal being deactivated shortly affecting all trading members