The Securities and Appellate Tribunal (SAT) has set aside market regulator SEBI’s disgorgement order of ₹625 crore against the National Stock Exchange (NSE) in the co-location trading scam and asked the exchange to pay ₹100 crore instead.
All you need to know about the NSE Co-location scam
The entire episode has raised questions about the governance and system lapses at the country’s premiere exchange
The co-location scam refers to misuse of NSE’s high-tech trading infrastructure. SAT also set aside SEBI’s order seeking part disgorgement of NSE bosses Ravi Narain and Chitra Ramkrishna’s salaries.