SAT rejects NSE plea for bank guarantee to Sebi in co-location case

SAT rejects NSE plea for bank guarantee to SEBI The Securities Appellate Tribunal (SAT) on Thursday rejected NSE’s plea for allowing it to provide bank guarantee instead of transferring Rs. 6870000000 from escrow account to SEBI in the co-location case. The tribunal, however, granted an additional week to the exchange to comply with the May 22 order, which directed NSE to transfer Rs. 6870000000 to the Securities and Exchange Board of India within 2 weeks from the escrow account.pti