Tribunal Grants Interim Relief To Anand Subramanian In NSE Governance Lapses Case

Sebi had imposed a penalty of Rs 2 crore on Anand Subramanian for alleged governance lapses at the NSE.

The Securities Appellate Tribunal (SAT) has directed Anand Subramanian, former Group Operating Officer at the National Stock Exchange (NSE), to deposit Rs 60 lakh in the case related to governance lapses at the bourse.

"If the amount is deposited the balance amount shall not be recovered during the pendency of the appeal. The amount so deposited shall be kept in an interest bearing account which would be subject to the result of the appeal," an order passed on Wednesday said.

He has been directed to pay the amount within four weeks and the order comes as an interim relief to him.

Subramanian approached the tribunal after Sebi passed an order on February 11,  wherein it imposed a penalty of Rs 2 crore on him for alleged governance lapses at the NSE.