Sebi slaps Rs 6-crore penalty on NSE for investing in 'unrelated' biz

Currently, NSE holds between 25 per cent and 100 per cent stakes in these entities through its arm NSE Investments

The Securities and Exchange Board of India (Sebi) on Thursday levied a penalty of Rs 6 crore on the National Stock Exchange (NSE) for allegedly investing in six companies unrelated or non-incidental to the stock exchange business.
 
These firms are Power Exchange India (PXIL), Computer Age Management Systems (CAMS), NSEIT, NSDL E-Governance Infrastructure (NEIL), Market Simplified India (MSIL), and Receivables Exchange of India (RXIL). The NSE held 25 to 100 per cent stakes in these entities through its subsidiary NSE Investments as of September.
 
“It is concluded that the noticee (NSE) had engaged, directly or through its wholly-owned