SAT to take up NSE plea against Sebi order in co-location case on Wednesday

On April 30, Sebi had passed multiple orders against NSE and some of its current and former staff for lapses at its co-lo facility that allowed preferential access to certain brokers

The National Stock Exchange (NSE) has moved the Securities Appellate Tribunal (SAT) against an order passed by the Securities and Exchange Board of India (Sebi) in the co-location (colo) case. The tribunal will take up the matter on Wednesday, as per the cause list on SAT’s website. Somasekhar Sundaresan will be the counsel for NSE, while Anubhav Ghosh will be the counsel for Sebi.

On April 30, Sebi had passed multiple orders against NSE and some of its current and former employees for lapses at its co-lo facility that allowed preferential access to certain brokers.

In one order, Sebi has directed NSE