A round-up of the biggest articles from newspapers
A round-up of the biggest articles from newspapers
Tribunal sets aside co-location ruling against National Stock Exchange
In a relief for the National Stock Exchange, the Securities Appellate Tribunal has slashed a Rs 624.89 crore fine imposed on National Stock Exchange by the Securities and Exchange Board of India while setting aside the regulator’s April 2019 order against the exchange in the co-location scam. The tribunal also overturned SEBI’s orders against NSE’s former top executives, Chitra Ramkrishna and Ravi Narain. The tribunal directed NSE to pay Rs 100 crore instead toward SEBI’s investor protection and education fund for its lapses pertaining to the co-location facility scam where certain brokers received preferential access to its secondary server at the expense of other traders.
Why it’s important: The tribunal has also pulled up the market regulator, saying it should have been more proactive in conducting the investigation.
Banks want immunity for board members on loan grant decisions
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