https://www.taxtmi.com/caselaws?id=311101 Securities Appellate Tribunal, Mumbai partially allowed appeals in NSE colocation facility case. Tribunal found NSE negligent in allowing unauthorized vendor Sampark to provide P2P connectivity without proper license verification, but rejected fraud charges under PFUTP Regulations due to lack of evidence of inducement. Disgorgement orders totaling Rs. 62.58 crore against NSE and amounts against Way2wealth and GKN Securities were quashed as no wrongful gains were proven. Debarment orders against former NSE officials including Chitra Ramkrishna were set aside as punitive rather than remedial. However, business restrictions on brokers for undertaking violations were upheld. SEBI directed to refund disgorged amounts within four weeks. en-us Wed, 09 Aug 2023 00:00:00 +0530 Thu, 07 Dec 2023 18:49:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311101 Securities Appellate Tribunal, Mumbai partially allowed appeals in NSE colocation facility case. Tribunal found NSE negligent in allowing unauthorized vendor Sampark to provide P2P connectivity without proper license verification, but rejected fraud charges under PFUTP Regulations due to lack of evidence of inducement. Disgorgement orders totaling Rs. 62.58 crore against NSE and amounts against Way2wealth and GKN Securities were quashed as no wrongful gains were proven. Debarment orders against former NSE officials including Chitra Ramkrishna were set aside as punitive rather than remedial. However, business restrictions on brokers for undertaking violations were upheld. SEBI directed to refund disgorged amounts within four weeks. Case-Laws SEBI Wed, 09 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311101