SEBI grants NSE 15 days time

MUMBAI, MAR 31: The Securities and Exchange Board of India (SEBI) today granted officials of the National Stock Exchange (NSE) 15 days’ time to appear before the regulator in connection with the price manipulation of three scrips in May last year.

NSE was also issued a show cause notice along with Bombay Stock Exchange president J C Parekh, who was asked to quit office, and the executive director, R C Mathur, to appear before the SEBI chairman on February 10 in connection with price manipulation of three scrips.

The officials were summoned today for a personal hearing before the SEBI chairman for their alleged failure in timely detection of price manipulation in the scrips of BPL, Videocon International and Sterlite Industries in May last year. The market regulator had yesterday granted Bombay Stock Exchange executive director, R C Mathur, one week’s time in the same case.