After Sebi order, foreign investors urge NSE not to challenge penalty

SEBI said it did not have sufficient evidence that the NSE committed a fraudulent and unfair trade practice

Some foreign investors in India's National Stock Exchange (NSE), which the market regulator has slapped with a steep fine and a six-month ban from public fundraising, are urging the bourse not to challenge the penalty and focus instead on a long-awaited initial public offering.

The Securities and Exchange Board of India (SEBI) on Tuesday ordered the country's largest stock exchange to pay about $100 million, plus interest, after finding it had failed to ensure all brokers had equal access to its network servers.

NSE said it was reviewing the order and taking legal advice before deciding whether to appeal to the Securities