The Securities and Appellate Tribunal (SAT) has set aside market regulator SEBI’s disgorgement order of ₹625 crore against the National Stock Exchange (NSE) in the co-location trading scam and asked the exchange to pay ₹100 crore instead.
The co-location scam refers to misuse of NSE’s high-tech trading infrastructure. SAT also set aside SEBI’s order seeking part disgorgement of NSE bosses Ravi Narain and Chitra Ramkrishna’s salaries.
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