Dark fibre case: SAT quashes Sebi’s order on NSE and ex-officials

The Securities Appellate Tribunal (SAT) on Wednesday quashed an order issued against the National Stock Exchange (NSE), its former managing director Chitra Ramakrishna, and other former executives issued in a matter related to internet infrastructure to get faster connectivity to its co-location facilities (colo) — popularly referred to as the dark fibre case.

In April 2019, the Securities and Exchange Board of India (Sebi) slapped heavy penalties alleging preferential treatment by NSE to two brokers — Way2Wealth Brokers and GKN Securities — for facilitating the laying of cables to provide latency advantage.