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2015 (7) TMI 177 - SECURITIES APPELLATE TRIBUNAL MUMBAIAnnulment of trades - Violation of the norms laid down by SEBI / NSE - Held that:- It was submitted by NSE that the settlement proposal put up by the parties is not in contravention of any of the rules/regulations/bye laws of NSE. However, submitted that in the absence of any power, NSE could not entertain the settlement. since the settlement is bonafide and is not violative of any provisions of SEBI/NSE, without going into the question as to whether NSE had power to take settlement on record or not, in the peculiar facts of the present case, we, in exercise of powers conferred under rule 21 of the Securities Appellate Tribunal (Procedure) Rules, 2000 direct NSE to take on record the settlement proposed by the appellants and release the withheld payment to the parties in terms of the settlement. NSE is directed to release the withheld payment as expeditiously as possible and in any event within a period of two weeks from today. - Decided in favour of appellants.
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