The Competition Appellate Tribunal (Compat) on Thursday granted the National Stock Exchange (NSE) interim relief from the Rs 55.5-crore penalty imposed by the Competition Commission of India (CCI). However, the exchange would have to pay the fine, along with interest at nine per cent a year, if it lost the case. The interest would be payable from a month after the date of CCI’s order till the date of the payment.
In its interim directive based on NSE’s plea against CCI’s order, a three-member bench headed by Compat Chairman Arijit Pasayat stayed the penalty and said prima facie it saw a case in the matter. The tribunal sought replies within four weeks from CCI and MCX-SX, whose complaint against NSE of anti-competition practices led to a probe by the competition watchdog.