The National Securities Depository Ltd (NSDL) on Thursday settled a case pertaining to alleged violation of depository rules with markets regulator Sebi after paying Rs 3.12 crore towards settlement amount. This came after NSDL proposed to settle the case involving alleged violations of rules specified under the Sebi (Depositories and Participants) Regulations, 2018 "without admitting or denying the findings of facts" through a settlement order. NSDL was accused of failing to address grievances from participants and beneficial owners within 30 days, as required by Regulation 7(g) and breaching clauses of the Code of Conduct under the same regulations, both before and after August 28, 2023. "In view of the acceptance of the settlement terms and the receipt of settlement amount...by Sebi, the instant adjudication proceedings initiated against applicant vide show cause notice (SCN) dated February 8, 2024, is disposed of," the settlement order noted. The Securities and Exchange Board o