NSE Colo Case: Apex Court Refuses To Stay SAT Order
Moneylife Digital Team 20 March 2023
The Supreme Court (SC) has declined to stay the order passed by the Securities Appellate Tribunal (SAT), which had set aside the Securities and Exchange Board of India (SEBI)’s order in the National Stock Exchange (NSE) co-location (Colo) case.  
 
According to the report by Bloomberg Prime, the SC has directed SEBI to return Rs300 crore to the NSE from the Rs944 crore it has lying with the regulator.
 
Earlier in January 2023, SAT had decided to set aside some of the orders issued by SEBI against the NSE in the NSE Colo scam of 2015. In its order, SAT has come down heavily on SEBI's handling of the case. 
 
In compliance with SEBI's 2019 order, the NSE deposited Rs1,044 crore with the regulator. After this, the Tribunal held that the Exchange needs to deposit only Rs100 crore. Now, the SC has directed SEBI to return Rs300 crore to the NSE from the Rs944 crore it has lying with the regulator.
 
Read about previous news here
 
 
 
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