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Terming the adjudication orders passed by the Securities and Exchange Board of India (SEBI) as arbitrary and violative of the principles of natural justice, the securities appellate tribunal (SAT) has quashed and drastically reduced penalties imposed against 19 entities. ....
Sebi Penalty Against NSE in Dark-Fibre Case Quashed by SAT vervetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vervetimes.com Daily Mail and Mail on Sunday newspapers.
The tribunal has set aside the total penalty of Rs 7 crore imposed by Sebi on NSE and has reduced the penalty on Ramkrishna from Rs 5 crore to Rs 25 lakh. Sebi had initiated investigation after it received complaints which alleged irregularities with respect to certain brokers availing point to point dark fibre connectivity from Sampark Infotainment. ....