Karvy Case: Sebi's recovery notices to BSE, NSE put on hold
However, SAT had adjourned the matters to June 21. In the meantime, Sebi issued a recovery notice against the exchanges on June 15.Now SAT has asked Sebi not to initiate the recovery proceedings until the tribunal hears the case.
By ET Bureau | Updated:
Agencies
Mumbai: The Securities Appellate Tribunal (SAT) has put a hold on recovery notices issued by the capital market regulator Sebi to stock exchanges BSE and NSE in the Karvy Broking case. On Wednesday, Sebi put out recovery notices against both exchanges asking them to pay fines totalling ₹5 crore based on a Sebi order dated April 12, 2022.
However, both the exchanges challenged the Sebi order in SAT on June 14.
However, SAT had adjourned the matters to June 21. In the meantime, Sebi issued a recovery notice against the exchanges on June 15.
Now SAT has asked Sebi not to initiate the recovery proceedings until the tribunal hears the case.
However, both the exchanges challenged the Sebi order in SAT on June 14.
However, SAT had adjourned the matters to June 21. In the meantime, Sebi issued a recovery notice against the exchanges on June 15.
Now SAT has asked Sebi not to initiate the recovery proceedings until the tribunal hears the case.
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