9911796707
TMI Blog2018 (1) TMI 1553X X X X Extracts X X X X X X X X Extracts X X X X ..... ay the said admissible amount to the appellants. Since the guidelines framed by NSE provide for maximum payment of ₹ 15 lakh from IPF, the appellant is not justified in seeking amount in excess of ₹ 15 lakh from IPF. WTM of SEBI has accepted the explanation given by NSE and accordingly discharged the show-cause notice issued to the NSE. In such a case, question of making NSE liable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the maximum amount payable out of the Investor Protection Fund (IPF) is only ₹ 15 lakh. 2. Counsel for the appellant submitted that once it is held that the claim admissible to the appellant is ₹ 1,70,69,707.50/-, NSE is not justified in restricting the claim to ₹ 15 lakh only. By referring to para 6.1 and 6.2 of the order passed by the Whole Time Member ( WTM for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appellant is not justified in seeking amount in excess of ₹ 15 lakh from IPF. 5. Reliance placed by counsel for the appellants on the order passed by the WTM of SEBI on 30th August, 2017 in case of Kassa Finvest Pvt. Ltd. , is misconceived. By that order, the WTM of SEBI has accepted the explanation given by NSE and accordingly discharged the show-cause notice issued to the NSE ..... X X X X Extracts X X X X X X X X Extracts X X X X
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