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COMPAT rejects National Stock Exchange appeal of CCI’s recordkeeping order

By  |  April 1, 2012

The Competition Appellate Tribunal has rejected the National Stock Exchange’s appeal of the Competition Commission of India’s order to maintain separate segment financial records. The order was issued as a result of an investigation prompted by stock exchange MCX-SX’s complaint; the CCI found that NSE had engaged in monopolistic practices. In its appeal, NSE had argued that such recordkeeping would be overly costly, and that the practice was not required under accounting standards. 

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    Related content: Maximizing Competition in the Case of Two-Sided Markets (Shankar Singham, Squire Sanders & Kaushal Sharma, Competition Commission of India)