SAT stays Sebi s Rs 6-crore fine on NSE - The Financial Express financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
NEW DELHI, Dec 15: The Securities Appellate Tribunal (SAT) has stayed the Rs 6 crore penalty that markets regulator Sebi had imposed on NSE for allegedly investing in firms unrelated to the stock exchange business.
Securities and Exchange Board of India (Sebi), in October, levied a fine of Rs 6 crore on National Stock Exchange (NSE) for allegedly investing in six companies unrelated or non-incidental to the stock exchange business.
The six entities are CAMS and Power Exchange India Ltd (PXIL), NSEIT Ltd, NSDL E-Governance Infrastructure Ltd (NEIL), Market Simplified India Ltd (MSIL) and Receivables Exchange of India Ltd (RXIL).
“The noticee (NSE) had engaged, directly and/or through its wholly-owned subsidiary NSICL, in activities that are unrelated/non-incidental to its activities as a stock exchange by way of acquisition of stakes in PXIL, CAMS, NSEIT Limited, NEIL, MSIL, and RXIL without seeking approval of SEBI,” the regulator had said in its order.
SAT stays SEBI s Rs 6 crore penalty on NSE
Securities and Exchange Board of India (Sebi), in October, levied a fine of Rs 6 crore on National Stock Exchange (NSE) for allegedly investing in six companies unrelated or non-incidental to the stock exchange business
PTI | December 15, 2020 | Updated 15:58 IST
In its order passed on December 11, SAT has stayed the penalty levied by Sebi on NSE
The Securities Appellate Tribunal (SAT) has stayed the Rs 6 crore penalty that markets regulator Sebi had imposed on NSE for allegedly investing in firms unrelated to the stock exchange business. Securities and Exchange Board of India (Sebi), in October, levied a fine of Rs 6 crore on National Stock Exchange (NSE) for allegedly investing in six companies unrelated or non-incidental to the stock exchange business.
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SAT Stays Sebi s Rs 6-crore Fine On NSE
Securities and Exchange Board of India (Sebi), in October, levied a fine of Rs 6 crore on National Stock Exchange (NSE) for allegedly investing in six companies unrelated or non-incidental to the stock exchange business.
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The Securities Appellate Tribunal (SAT) has stayed the Rs 6 crore penalty that markets regulator Sebi had imposed on NSE for allegedly investing in firms unrelated to the stock exchange business.
Securities and Exchange Board of India (Sebi), in October, levied a fine of Rs 6 crore on National Stock Exchange (NSE) for allegedly investing in six companies unrelated or non-incidental to the stock exchange business.
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