The Securities and Exchange Board of India (Sebi) has slapped a penalty of Rs 6 crore on the National Stock Exchange (NSE) for investing in six companies unrelated or non-incidental to the stock exchange business without approval from the capital markets regulator.
The exchange invested in Power Exchange India (PXIL), Computer Age Management Systems (CAMS), NSEIT, NSDL E-Governance Infrastructure (NEIL), Market Simplified India (MSIL) and Receivables Exchange of India (RXIL).
The NSE held 25-100 per cent stakes in these entities through its subsidiary NSE Investments without the Sebi approval as of September.
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