Co-location episode: Solution talks between SEBI-NSE at a decisive turn

Mumbai: Prior to the National Stock Exchange (NSE) long-pending early public offering (IPO), the exchange is allegedly at the final stages of interaction with the capital market regulator Indian Securities and Exchange Board (SEBI) to get a clean chit on the co-location issue.

It is being told that the NSE is moving forward in conversation with SEBI for the consent agreement in its co-location case, which is currently pending in the Supreme Court. SEBI has challenged the decision of the Securities Appellate Tribunal (SAT) to reduce the basic punishment imposed on NSE in 2019.

A expert in the case says that the discussion on this most important issue to resolve the co-location case began a month and a half ago. Currently, both sides are interacting on consent standards. The important issue is that NSE will have to pay how much amount to SEBI for disposal.

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Another source said that SEBI may ask NSE to pay a double amount of Rs 643 crore in 2023 to settle the most expensive settlement access point (TAP). At the time of TAP disposal, SEBI had asked the exchange that he would also demand equal amount from the promoter -led company.

Meanwhile, NSE, in a letter written on March 28, informed SEBI that he wanted to resolve the pending case with consent. The Governing Board of the Exchange has already approved the plan to adopt the sanctioned settlement route. NSE has also sought a No Objection Certificate (NOC) from SEBI.