Mumbai: The board of the National Stock Exchange of India (NSE) on Thursday evening decided to move the Securities Appellate Tribunal (SAT) against the three orders in the co-location issue. The exchange is yet to file the appeal, but will mark one of the rare instances where the exchange is challenging the regulator's orders. The NSE board also said that based on legal opinion they have not provided for any liability from these orders. However, in all the orders, the NSE has not been charged for committing fraud," said a person familiar with the exchange's thinking. A Mint article on 2 May pointed out that based on Sebi analysis, the disgorgement on the NSE should be only ₹350 crore.

Source: Mint May 17, 2019 04:52 UTC