Co-location case: Tribunal orders release of NSE's ₹6,000 cr held up in escrow a/c

Co-location case: Tribunal orders release of NSE’s ₹6,000 cr held up in escrow a/c
May 17, 2021
No clarity on whether SEBI will go for an appeal in SC
The National Stock Exchange (NSE) won a major relief from the Securities and Appellate Tribunal (SAT) on Monday as it was allowed to withdraw ₹6,085 crore from an escrow account that it had to deposit on orders from market regulator SEBI.
The money was linked to SEBI’s order in the co-location or algo trading scam. After SEBI found NSE guilty of various lapses in the co-location services that gave preferential access to a few brokers and traders, the regulator asked the exchange to deposit all its earnings from the specific segment in an escrow account. Monday’s SAT order was the outcome of NSE’s miscellaneous appeal.

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