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Co-location scam: Rs 7 crore penalty on NSE, Sebi fines Chitra & others too

Former NSE officials Subramanian Anand and Ravi Varanasi also fined Rs 5 crore each

June 29, 2022 / 10:01 AM IST
 (Representative Image)

(Representative Image)

Markets regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 7 crore on the National Stock Exchange (NSE) and Rs 5 crore on former CEO Chitra Ramkrishna in the 'dark fibre' case.

It has also imposed a fine of Rs 5 crore each on former NSE officials Anand Subramanian and Ravi Varanasi while Way2Wealth Brokers has been asked to pay a fine of Rs 6 crore.

The case involves the alleged differential access given to certain broking firms and members in the form of 'dark fibre' at NSE, especially to connect across the colocation facilities ahead of other members.

The Central Bureau of Investigation (CBI) had filed an FIR in the NSE manipulation case — also known as the NSE co-location case — in 2018.
Tags: #SEBI
first published: Jun 29, 2022 08:49 am
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