NEW DELHI: The Securities Appellate Tribunal (SAT) has granted interim stay on Sebi's order against Ajay Shah, Infotech Financial Services, its two company directors as well as NSE's senior official Suprabhat Lala in the co-location case. The NSE in 2009 had engaged Shah and Infotech Financial Services for a research project. However, the entities allegedly developed an algorithm (algo) trading software by misusing confidential data from the NSE, according to the Securities and Exchange Board of India (Sebi). Meanwhile, Sebi's order barring the entities from the market shall remain stayed till further orders, the tribunal said, and listed the matter for further hearing on 22 July. This story has been published from a wire agency feed without modifications to the text.

Source: Mint May 08, 2019 17:48 UTC