Latest SAT relief colocation matter to free up Rs 1,000 cr for NSE

Tribunal prunes penalty on bourse from Rs 1,100 cr to just Rs 100 cr; Sebi told to refund excess amount in six weeks along with interest

Khushboo Tiwari Mumbai
National Stock exchange, NSE

While setting aside the disgorgement order, the SAT has reduced the penalty on NSE to just Rs 100 crore for certain lapses on its part.

The latest relief to the National Stock Exchange (NSE) from the Securities Appellate Tribunal (SAT) in colocation matter is likely to free up over Rs 1,000 crore -- money that the exchange has parked with the Securities and Exchange Board of India (Sebi).
According to the financial results for the quarter ended September 30 (Q2), the NSE had a total amount of Rs  1,108 crore deposited with the markets regulator as a part of the penal action taken by Sebi in 2019.
While setting aside the disgorgement order, the SAT had reduced the penalty on NSE to just Rs 100 crore for certain lapses on its part. “The direction for disgorgement was unwarranted but the appellant NSE cannot be allowed go scot free and is required to pay a price for the lack of due diligence on account of human failure to comply with the circular in letter and spirit…we are of the opinion that NSE should pay a sum of Rs 100 crore for this lapse which is not expec

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First Published: Jan 24 2023 | 7:15 PM IST

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