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Co-location: NSE moves Securities Appellate Tribunal against Sebi rulings

A total of three petitions have been filed against the rulings of the market regulator, which had also directed the bourse to disgorge profits worth over Rs 1,000 crore

Press Trust of India  |  New Delhi 

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The National Stock Exchange Tuesday moved the challenging Sebi's rulings against it in the case, according to an official.

A total of three petitions have been filed against the rulings of the market regulator, which had also directed the bourse to disgorge profits worth over Rs 1,000 crore.

Two of the pleas are scheduled for hearing on Wednesday, as per the cause list of the tribunal.

In April, directed the exchange to disgorge profits worth over Rs 1,000 crore and imposed a six-month ban on launching new derivative products besides action against other entities, including some current and former officials.

The watchdog had passed five separate orders, together running into 400 pages, related to the case, wherein some entities allegedly got preferential access in high frequency trading.

On Friday, the had said it would soon move the tribunal against rulings in the case as there are "strong grounds" to challenge the orders.

First Published: Tue, May 21 2019. 20:40 IST
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