The Supreme Court disposes of SEBI’s petitions against the National Stock Exchange (NSE) following an approved settlement of about ₹1,500 crore tied to the exchange’s co-location and dark fibre cases. The court takes note of the settlement terms and closes the regulator’s appeals, reducing a key regulatory overhang for NSE’s planned listing.
The cases stem from allegations that some brokers received preferential speed advantages and quicker access to market data, potentially enabling them to execute trades ahead of other investors. Coverage across outlets describes the settlement as covering the co-location dispute and the “dark fibre” or leased-line connectivity dispute. Reports say SEBI accepted NSE’s settlement applications in July for an aggregate amount of roughly ₹1,492 crore, including a larger component for co-location and a smaller component for dark fibre.
Outlets also diverge slightly on figures and emphasis. Several mention the settlement clearing the way for NSE’s IPO preparations, expected to raise around ₹30,000 crore through an offer for sale of existing shares. Others stress that while the Supreme Court closes SEBI’s appeals against NSE, legal proceedings involving NSE former officials remain separate and continue to be decided independently.
