Supreme Court Disposes of SEBI Appeals Against NSE in Co-Location Cases
The Supreme Court disposed of a batch of appeals filed by SEBI against the National Stock Exchange (NSE) regarding co-location and dark fibre cases, following a settlement of nearly ₹1,500 crore between the regulator and the exchange. A bench of Justices J.B. Pardiwala and K. Vinod Chandran set aside dissenting directions issued by the Securities Appellate Tribunal (SAT). The settlement comes just ahead of the NSE's anticipated stock market debut, effectively resolving a decade-old regulatory dispute concerning allegations of preferential access given to certain brokers.
Key Points
- The Supreme Court disposed of SEBI's appeals against NSE after a ₹1,500 crore settlement involving co-location and dark fibre cases.
- The settlement comprises ₹1,224 crore for the co-location case and ₹268 crore for the dark fibre case.
- The resolution clears a nearly decade-old regulatory dispute, allowing NSE to move forward with its much-anticipated stock market debut.
- The allegations of unfair access originally surfaced following a whistleblower complaint in January 2015.
Exam Facts
- Total settlement amount is nearly ₹1,500 crore (₹1,224 crore plus ₹268 crore).
- The bench comprised Justices J.B. Pardiwala and K. Vinod Chandran.
- Allegations of unfair access first surfaced through a whistleblower complaint in January 2015.
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