SAT stays order against Edelweiss broking, temporary relief for DHFL

Tribunal asks NSE and Edelweiss to submit replies on Rs 1.8 cr penalty slapped by the exchange on the broker; in DHFL case, Sebi told to halt recovery proceedings against the firm

The Securities Appellate Tribunal (SAT) has stayed an order passed by the National Stock Exchange (NSE) against Edelweiss Broking and has directed both parties to submit their replies. In 2017, NSE had imposed a penalty of Rs 1.8 crore on Edelweiss for non-adherence to leverage and exposure limits while granting margin trading facility. 

“We stay the effect and operation of the impugned order provided the appellant deposits 50 per cent of the amount of the penalty within three weeks which shall be kept in an interest bearing escrow account and would be subject to the result of the appeal,” the