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2016 (11) TMI 1622 - AT - SEBICancellation/Annulment of trade – guilty of gross negligence by not installing requisite checks and balances as there was punching of erroneous selling order – Whether mistake of punching erroneous sell order constituted ‘material mistake in trade’ and was annullable under Bye law 5(a) framed by NSE - HELD THAT:- In view of the decision of this Tribunal in the case of M/s. Emkay Global Financial Services Limited vs. National Stock Exchange of India Limited & Ors. [2015 (8) TMI 335 - SECURITIES APPELLATE TRIBUNAL MUMBAI] which is subsequent to the impugned decision, the Committee of NSE would rehear all the parties and pass fresh order on merits. Accordingly, the impugned order is allowed to be withdrawn with liberty to the Committee of NSE to pass fresh order on merits. NSE is directed to give all the relevant trade and order logs to all the parties before passing the fresh order.
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