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2018 (1) TMI 1553 - AT - SEBINSE liability to pay the amounts admissible to the appellants - HELD THAT:- Fact that the claim held liable to be paid (admissible) by the erring broker to the appellants comes to ₹ 1,70,69,707.50/- does not mean that NSE is liable to pay the said admissible amount to the appellants. Since the guidelines framed by NSE provide for maximum payment of ₹ 15 lakh from IPF, the appellant is not justified in seeking amount in excess of ₹ 15 lakh from IPF. WTM of SEBI has accepted the explanation given by NSE and accordingly discharged the show-cause notice issued to the NSE. In such a case, question of making NSE liable to pay the amounts admissible to the appellants does not arise at all. We see no merit in the appeal and the same is hereby dismissed
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