The National Stock Exchange (NSE), the largest exchange in India, is awaiting permission from the Securities and Exchange Board of India (Sebi) as a result of the relief in the co-location dispute and the exchange's responses to the regulator's questions.
Ashishkumar Chauhan provided updates on the status of the IPO and the choice to leave non-core sectors in his second investor call since taking over as the bourse's managing director and chief executive officer (MD & CEO) on Wednesday.
"They (Sebi) wrote to us about several issues, and we responded this quarter. In this regard, we are awaiting their reaction," he stated.
According to sources, Sebi would challenge the Securities Appellate Tribunal (SAT) decision from January 23 that invalidated the regulator's Rs 625 crore disgorgement judgment on the NSE. The plans could be further delayed by the regulator's appeal.
"Numerous other legal cases are proceeding in numerous other courts; these cases may or may not be relevant. They could be related to this case or not. We don't know anything, Chauhan continued.