NSE pronounced guilty by CCI for unfair trade practices
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Competition watchdog CCI today pronounced the National Stock Exchange (NSE) guilty of abusing its dominant market position by adopting unfair trade practices in connection with currency derivatives trading.
However, the quantum of fine to be levied on NSE is yet to be ascertained.
"The Commission has pronounced NSE guilty of violating section 4 of the Competition Act, 2002. But it will decide on the quantum of fine only after hearing NSE. We have given them a week's time to respond to our show cause notice," an official told PTI.
This is second time CCI has sent a show cause notice to NSE on the issue before taking a decision on the quantum of fine to be slapped on it.
The earlier show cause notice was challenged at the Bombay High Court. (PTI)
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CA SUBHASH KR.
26-May-2011 , 11:52:54 amnice