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Former NSE CEO Ravi Narain gets interim relief by SAT in co-location case

Narain has stepped down from the board of Escorts and PI Industries

BS Reporter  |  Mumbai 

NSE Vice-Chairman Ravi Narain, NSE, Ravi Narain
Former NSE CEO Ravi Narain

The (SAT) on Tuesday granted interim relief to Ravi Narain, former MD & CEO of the (NSE), by staying an order passed by the Securities and Exchange Board of India (Sebi) in the co-location case.
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On April 30, the regulator barred Narain from associating with a listed company or any other market intermediary for a period of five years for his alleged role in the co-lo case.

Last week, Narain had moved against the order. The tribunal is likely to hear the matter next in July. Following the order, Narain stepped down from the board of Escorts and PI Industries, where he served as an independent director.

First Published: Wed, May 15 2019. 00:57 IST
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