Appellate tribunal asks NSE to transfer Rs 687 cr to Sebi within two weeks

Securities and Appellate Tribunal to take up the matter again on July 22

The Securities and Appellate Tribunal (SAT) on Wednesday put a stay on disgorgement orders issued by the Securities and Exchange Board of India (Sebi) against the National Stock Exchange of India (NSE) in the co-location case. 

The tribunal directed the NSE to transfer Rs 687.5 crore from the escrow account to the Securities and Exchange Board of India (Sebi) within two weeks. This will be kept in an interest-bearing account till the result of the appeal.

The SAT further directed NSE to place all revenues emanating from its co-location facility in the same escrow account and furnish details of the