NSE IPO Faces New Delay: Legal Challenge to SEBI Clearance

• India's largest stock exchange, NSE, faces another hurdle in its decade-long IPO bid.
• A writ petition in Delhi High Court challenges SEBI's no-objection certificate (NOC) granted on January 30.
• Former judicial officer KC Aggarwal filed the plea, alleging NSE failed to adhere to Corporate Action Adjustments (CAA) framework.
• Aggarwal claims NSE improperly debited dividend-equivalent amounts from derivatives traders' accounts.
• The petitioner also alleges his complaints were ignored and SEBI upheld NSE's actions without independent review, despite his urging against IPO approval.