Left Menu
Development News Edition

Co-location case: SAT grants interim relief to former NSE CEO Ravi Narain

Devdiscourse News Desk | Mumbai | Updated: 14-05-2019 23:09 IST | Created: 14-05-2019 22:18 IST
Co-location case: SAT grants interim relief to former NSE CEO Ravi Narain
Image Credit: Wikimedia Commons

Former NSE chief executive Ravi Narain was Tuesday granted interim relief by the Securities Appellate Tribunal (SAT) in the co-location case order by Sebi. Granting the interim relief in the form of a stay, a division bench of SAT including presiding officer Justice Tarun Agarwala, member CKG Nair and judicial member Justice MT Joshi adjourned the case to July 22.

The capital markets regulator had earlier this month barred Narain and other NSE executives including former managing director Chitra Ramkrishna and others for their role in the co-location case. In its order, Sebi had said, "Having held the senior-most management position in the NSE and overseeing the affairs of the conduct of the stock exchange business, they cannot limit their roles to the non-technology issues of the exchange."

"The MD and CEO of a stock exchange cannot abdicate his/ her responsibility by citing limited knowledge in certain spheres of the business activities," it had said in the order. Three other officials of the equity bourse, who were serving the exchange, have been granted similar reliefs in the past and have already rejoined service.



Rethinking Rural Livelihoods in the Times of COVID-19

The reverse migration caused by COVID 19 pandemic has put an additional burden of about one crore people on Indian villages particularly in the states of Uttar Pradesh, Bihar, Bengal and Odisha. Besides increasing the risk of spreading the ...

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...


Latest News

'Neurological symptoms of coronavirus infection decoded'

The most common neurological complaints in COVID-19 are headache, loss of sense of smell and taste, stroke, impairment of consciousness, and seizure, according to a review of studies that may lead to improved clinical outcomes and better tr...

ICAI to develop audit quality indicators; seeks to bolster competence of Indian audit firms

In efforts to strengthen quality of auditing activities, chartered accountants apex body ICAI will develop a framework for audit quality indicators that will also help Indian audit firms and auditors to compete globally. ICAI President Atul...

ITR forms for 2019-20 notified; govt makes mandatory disclosure of electricity bill exceeding Rs 1L

The government has notified forms for filing tax returns for income earned in 2019-20 and made it mandatory for people to file ITR in case their deposits in a current account exceed Rs 1 crore or electricity bill in the fiscal is Rs 1 ...

Assam reports 56 new COVID-19 cases, state tally reaches 1272

With 56 new cases of COVID-19 reported in Assam on Sunday, the tally of coronavirus cases reaches 1272 in the state, said Assam Health Minister Himanta Biswa Sarma.Out of these 56 cases, 18 were reported in Lakhimpur, 12 from Barpeta, seven...

Give Feedback