NEW DELHI: The Securities Appellate Tribunal (SAT) has granted interim stay on the Sebi's orders against stock brokers OPG Securities and GKN Securities in the NSE co-location case. However, OPG and GKN have been directed to deposit ₹7.5 crore and ₹2.5 crore, respectively, to the Securities and Exchange Board of India (Sebi) on or before May 20. If the amount is not deposited within the stipulated period, the interim order will stand vacated automatically, the tribunal said. Last week, Sebi had barred OPG Securities and its three directors from markets for five years and asked them to disgorge illegal gains of ₹15.57 crore with interest, while GKN Securities was asked to disgorge ₹4.9 along with interest. Besides, GKN was asked not to undertake any trade on any stock exchange on proprietary account for two years.

Source: Mint May 07, 2019 17:26 UTC