SAT partly sets aside Sebi's disgorgement order against NSE in dark-fibre case

MUMBAI: The Securtities Appellate Tribunal (SAT) has partly set aside the Securtities and Exchange Board of India’s (Sebi) order directing the National Stock Exchange(NSE) to disgorge 62.6 crore in the dark- fibre case.

The tribunal has quashed Sebi’s direction barring NSE’s former CEO Chitra Ramkrishna from holding any position in stock exchanges or listed companies for three years and three other former officials — Ravi Varanasi, Nagendra Kumar SRVS and Deviprasad Singh for two years. SAT said the directions were ‘harsh and excessive and cannot be sustained’.