Nuvama Wealth Management Limited has announced that an appeal filed by its wholly owned subsidiary, Nuvama Clearing Services Limited (NCSL), for a penalty waiver has been rejected. The penalty, amounting to ₹10,84,438.40, was due to the non-submission of client collateral segregation data by a trading member affiliated with NCSL in the F&O segment. The rejection was issued by the Appeal Panel on June 12, 2026. The company has confirmed there is no impact on its financials or operations.
Subsidiary’s Penalty Appeal Rejected
Nuvama Wealth Management Limited has provided an update regarding an appeal filed by its wholly owned material subsidiary, Nuvama Clearing Services Limited (NCSL). The appeal was filed to seek a waiver for a penalty totaling ₹10,84,438.40. This penalty stemmed from the non-submission of client collateral segregation data by a trading member associated with NCSL within the Futures and Options (F&O) segment.
Outcome of the Appeal
The Appeal Panel has ruled against NCSL, rejecting the appeal for the penalty waiver. This decision was communicated on June 12, 2026. The underlying issue leading to the penalty was a review request concerning the aforementioned data non-submission.
Impact on Nuvama Wealth Management
Nuvama Wealth Management Limited has explicitly stated that this development will have no impact on the financials, operations, or any other activities of the company or its subsidiaries and associates. The company has submitted the necessary details as required by the relevant regulations.
Source: BSE
