Co-location case: Sebi directs senior NSE officials to stay 'out of action'

People with knowledge of the matter say Sebi's directive has come after the CBI intervened

Securities and Exchange Board of India (Sebi) has directed the NSE to keep four senior officials, served show-cause notices (SCN) in the co-location case, out of action. Sources said these four key managerial personnel (KMP) will have to remain out of the bourse’s “sensitive” and “confidential” matters until the probe is complete.

The move is to ensure a fair trial in the colo case, which is nearing conclusion.

“These KMP have also been directed to recuse themselves from key decisions of the NSE. Further, they have been told not to participate in any of the core activities,” said a regulatory