The National Commodity Clearing Limited (NCCL), on November 21, 2025, issued a reminder to all Clearing Members—Trading-cum-Clearing Members (TCM), Self-Clearing Members (STCM), and Professional Clearing Members (PCM)—regarding the mandatory submission of the Internal Audit Report for the half year ended September 30, 2025. This follows the earlier communication issued through Circular No. NCCL/INSPECTION-010/2025 dated October 10, 2025.
In line with SEBI’s advisories and to ease compliance requirements, NCCL has clarified that only auditors empanelled with any recognized Exchange are eligible to conduct the internal audit of Clearing Members. All members who conducted at least one clearing activity between April 1, 2025, and September 30, 2025, must ensure completion of the internal audit and submit the audit report by November 30, 2025.
The circular reiterates that penalties or disciplinary actions for late or non-submission will follow NCCL Circular No. NCCL/COMPLIANCE-002/2024 dated March 28, 2024, while non-compliances identified in the audit will be dealt with under Circular No. NCCL/COMPLIANCE-013/2023 dated December 28, 2023, or other applicable circulars issued subsequently. Members have been advised to comply strictly with these requirements.
[Notification No. NCCL/INSPECTION-012/2025]
