Comments
The Delhi High Court on Tuesday asked the Competition Commission of India (CCI) to furnish to the NSE by Friday its complete order including the dissent part.
The NSE had on Monday filed an affidavit in the Delhi High Court seeking a complete order from the competition watchdog. In the absence of dissent notes, NSE had contended that it was unable to take a full view on the matter and come up with a suitable response to the show cause notice issued against the stock exchange.
While directing CCI to furnish the complete order, the Delhi High Court on Tuesday asked NSE to file its response to the CCI's show cause notice within five working days from the date of receipt of the order. This effectively means that NSE may get time upto June 10 to file a response, in a situation where the complete order is handed out on Friday. NSE was earlier required to file its response to the show cause notice by June 2.
Last week, the CCI had issued an order that found the NSE in breach of Section 4 of the Competition Act dealing with abuse of dominant position. NSE was also found to have adopted unfair trade practices in currency derivatives segment.
Imperative
The CCI had on April 29 issued a show cause notice to NSE on the issue of penalty to be levied on the exchange. After looking into the response filed by NSE, the quantum of penalty will be decided.
Hearing the matter, Mr Justice S. Muralidhar directed the CCI to provide NSE the copy of complete order, including the dissent notes and said that “the Commission is a public body and all its order must be available to all.”
“Why keep the dissenting note back? You (CCI) are not a private body. All your opinions must be in public. In fact you should put it on Web site. None should need to file an application to get your order,” Mr Justice Muralidhar observed.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.