Supreme Court Disposes of SEBI Appeals Against NSE in Two Cases
The Supreme Court disposed of a batch of appeals filed by the Securities and Exchange Board of India (SEBI) against the National Stock Exchange (NSE) regarding co-location and dark fibre cases, following a nearly ₹1,500 crore settlement between the market regulator and the exchange. A Bench of Justices J.B. Pardiwala and K. Vinod Chandran set aside Securities Appellate Tribunal (SAT) directions against SEBI. The resolution comes ahead of NSE's highly anticipated stock market debut, successfully resolving a decade-old regulatory dispute and reinforcing transparency in financial markets.
Key Points
- The Supreme Court disposed of SEBI appeals against NSE regarding co-location and dark fibre cases following a settlement.
- Total settlement amount between SEBI and NSE stands at nearly ₹1,500 crore.
- The settlement includes ₹1,224 crore for the co-location case and ₹268 crore for the dark fibre case.
- The resolution clears the path for NSE's long-awaited stock market debut, ending a decade of regulatory hurdles.
Exam Facts
- The settlement amount is nearly ₹1,500 crore (specifically ₹1,224 crore + ₹268 crore).
- Allegations of unfair access first surfaced via a whistleblower complaint in January 2015.
- The Bench comprised Justices J.B. Pardiwala and K. Vinod Chandran.
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