SEBI has not ‘diluted’ any order in NSE case: Ajay Tyagi

Days after the government expressed its intention to examine the SEBI order in the National Stock Exchange (NSE) case, outgoing SEBI chief Ajay Tyagi on Wednesday said the regulator has “mild” any of its quasi-judicial decisions. did not do.

His statement assumes significance in the context of Finance Minister Nirmala Sitharaman’s statement that the government is examining the steps taken by SEBI in the case of NSE to see whether necessary punitive measures have been taken.

Sitharaman had said a few days ago that the government is examining the move of the Securities and Exchange Board of India (Sebi) in the NSE matter to see whether it has taken appropriate steps with a right mind.

Tyagi, who served as the head of SEBI for five years, said in the context of this statement that SEBI has acted according to its understanding and sphere of influence in this matter. He said several other law enforcement agencies were also probing the matter.

Tyagi said, “The facts and findings so far available in the public domain are based on the findings of SEBI which was disclosed by it in its order. We should also wait for investigation by other agencies.”

He said that SEBI is cooperating with other agencies and also providing the information sought by them.

Tyagi told reporters after handing over the reins of SEBI to Madhavi Puri Buch that the dispute related to NSE dates back to 2010-15 and SEBI had given its first order in its ‘co-location’ matter in April 2019 itself.

Former NSE chief Chitra Ramakrishna has also been convicted by Sebi for sharing confidential information with a mysterious yogi in the operation of the country’s largest stock exchange.