National Stock Exchange of India (NSE) on Tuesday confirmed that it has filed two separate settlement applications with market regulator Securities and Exchange Board of India (Sebi) in relation to the colocation and dark fibre cases and it is awaiting a response from the regulator on this.
NSE also claimed that the exchange has strong grounds to contest the orders passed against it including the levy of monetary penalty by Sebi. It said that the view is based on the opinion of the external legal counsel.
"Based on the opinion of the external legal counsel, NSE is of the view that it has strong grounds to contest each of the above orders / appeals including levy of monetary penalty passed by Sebi. Accordingly, no provision for any liability in this regard is considered necessary in the consolidated statement of financial results for the quarter ended June 30, 2025, other than the amount of Rs. 100 Crores imposed by the Hon'ble SAT in the Colocation WTM Appeal which had been duly adjusted against the amount deposited by NSE with SEBI during the year ended March 31, 2023," NSE said in a statement.
NSE informed about the development along with its Q1 earnings.
NSE in Tuesday filing said that it had received three separate Show Cause Notices (SCNs) from Sebi on May 22, 2017, July 3, 2018, and July 31, 2018. These notices pertained to issues related to NSE's Colocation facility, Dark Fibre access, and matters concerning governance and conflicts of interest. The SCNs were directed at NSE as well as certain current and former employees. Sebi's Whole Time Member (WTM) issued final orders addressing all three notices on April 30, 2019.
India's largest stock exchange and the world's most active derivatives exchange has been embroiled in litigation with the Sebi since 2019, when it was fined 11 billion rupees for failing to provide equitable access to all its trading members.
NSE has been trying to list since 2016 to enable some of its biggest investors to exit. But has been prevented by the regulator's investigations.
Sebi chairman Tuhin Kanta Pandey had in March said that the regulator will look into the issues related to the initial public offering (IPO) of NSE.
NSE has seen an unprecedented buying frenzy in India's unlisted market, with retail investors quadrupling in just three months as IPO anticipation reaches fever pitch. More than 1 lakh retail investors have snapped up NSE shares, marking one of the most dramatic surges ever witnessed in the unlisted space.
NSE's retail shareholder base has exploded from 33,896 in March 2025 to 146,208 in June 2025, a staggering four-fold jump that has caught market veterans by surprise. Resident individuals holding nominal share capital of up to ₹2 lakh now command an 11.81% stake in the company, up sharply from 9.89% in the March quarter.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
NSE also claimed that the exchange has strong grounds to contest the orders passed against it including the levy of monetary penalty by Sebi. It said that the view is based on the opinion of the external legal counsel.
"Based on the opinion of the external legal counsel, NSE is of the view that it has strong grounds to contest each of the above orders / appeals including levy of monetary penalty passed by Sebi. Accordingly, no provision for any liability in this regard is considered necessary in the consolidated statement of financial results for the quarter ended June 30, 2025, other than the amount of Rs. 100 Crores imposed by the Hon'ble SAT in the Colocation WTM Appeal which had been duly adjusted against the amount deposited by NSE with SEBI during the year ended March 31, 2023," NSE said in a statement.
NSE informed about the development along with its Q1 earnings.
NSE in Tuesday filing said that it had received three separate Show Cause Notices (SCNs) from Sebi on May 22, 2017, July 3, 2018, and July 31, 2018. These notices pertained to issues related to NSE's Colocation facility, Dark Fibre access, and matters concerning governance and conflicts of interest. The SCNs were directed at NSE as well as certain current and former employees. Sebi's Whole Time Member (WTM) issued final orders addressing all three notices on April 30, 2019.
India's largest stock exchange and the world's most active derivatives exchange has been embroiled in litigation with the Sebi since 2019, when it was fined 11 billion rupees for failing to provide equitable access to all its trading members.
NSE has been trying to list since 2016 to enable some of its biggest investors to exit. But has been prevented by the regulator's investigations.
Sebi chairman Tuhin Kanta Pandey had in March said that the regulator will look into the issues related to the initial public offering (IPO) of NSE.
NSE has seen an unprecedented buying frenzy in India's unlisted market, with retail investors quadrupling in just three months as IPO anticipation reaches fever pitch. More than 1 lakh retail investors have snapped up NSE shares, marking one of the most dramatic surges ever witnessed in the unlisted space.
NSE's retail shareholder base has exploded from 33,896 in March 2025 to 146,208 in June 2025, a staggering four-fold jump that has caught market veterans by surprise. Resident individuals holding nominal share capital of up to ₹2 lakh now command an 11.81% stake in the company, up sharply from 9.89% in the March quarter.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
You may also like
Actor Adil Hussain Speaks at EPFO's 20th RGDE Event
Gyokeres wonder goal, absent players, embarrassed Saka - Four things spotted in Arsenal training
Ruth Carr fan lands amazing £96,000 bet on day to remember for Yorkshire trainer
Smoking cigarettes not only causes cancer, but it also causes many types of diseases, all of which are fatal.
India Champions Decline WCL Semifinal Clash With Pakistan, Cite Longstanding Opposition
