ANI
22 Jun 2022, 15:55 GMT+10
New Delhi [India], June 22 (ANI): The Central Bureau of Investigation (CBI) has arrested the Managing Director of brokerage house OPG Securities Sanjay Gupta in connection with the National Stock Exchange (NSE) co-location case.
Sanjay Gupta of Delhi-based brokerage was named among the key beneficiaries in the National Stock Exchange (NSE) co-location scam.
Last month, the CBI conducted searches against brokers at more than 10 locations in different parts of the country in connection with the alleged co-location scam.
Searches were conducted in Delhi, Mumbai, Kolkata, Gandhinagar, Noida, and Gurugram.
In the NSE case, the central agency CBI had arrested former MD of NSE Chitra Ramkrishna and NSE Group operating officer Anand Subranian.
CBI has filed a charge sheet against Chitra Ramkrishna and Anand Subramanian in the month of April.
The CBI finds in its investigations, that pertains to allegations of brokers, who are being preferred as co-location facilities in NSE's trading system, through which they purchased "rack space" for their servers.
According to the investigating agency's first information report (FIR), "these traders quickly gained access to the exchange's data feed."In the NSE co-Location case, the CBI said that the investigation states that accused Chitra Ramakrishna, by misusing her official position, re-designated the post of accused Anand Subramanian as Group Operating Officer and Advisor to MD from April 1, 2015, without bringing the same to the notice of NRC and the board.
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers.
Earlier, the capital market regulator Securities and Exchange Board of India (SEBI) penalized the NSE and its former CEOs Chitra Ramakrishna and Ravi Narayan, and two other officials for lapses in recruitment at the senior level.
The market regulator SEBI observed that the NSE and its top executives violated securities contract norms relating to the appointment of Anand Subramaniam as group operating officer and advisor to the managing director.
Chitra Ramkrishna was the MD and CEO of the NSE from April 2013 to December 2016. (ANI)
Get a daily dose of San Antonio Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Antonio Post.
More InformationWASHINGTON D.C.: Despite weather and staffing issues resulting in travel disruptions, last week the U.S. Transportation Security Administration (TSA) screened ...
WASHINGTON D.C.: In May, sales of new U.S. single-family homes unexpectedly increased, but this is expected to be temporary, as ...
WASHINGTON, DC - U.S. President Joe Biden on Friday vowed to "do all in my power" to protect a woman's ...
Zack Greinke pitched six solid innings for the host Royals as they salvaged the final game of a three-game series ...
OAXACA CITY, Mexico - Before he began the journey that ended in disaster, Jose Luis Vasquez lived in a remote ...
Five-star wide receiver Johntay Cook II committed to Texas on Wednesday, giving coach Steve Sarkisian his quarterback-wideout combination of the ...
MOSCOW, Russia: The UK newspaper, the Telegraph, has been blocked in Russia, following a request from the Russian prosecutor-general.The TASS ...
LAHORE, Pakistan - An Airbus 320 carrying 171 passengers narrowly avoided an accident at Allama Iqbal International Airport, Pakistan's second-largest ...
WASHINGTON, DC - U.S. President Joe Biden on Friday vowed to "do all in my power" to protect a woman's ...
YANGON, Myanmar - According to military-run media, a junta delegation discussed nuclear technology collaboration with a Russian state-owned atomic energy ...
DHAKA, Bangladesh - The United States Agency for International Development (USAID) is providing more than Tk2.3 crore in emergency funding ...
PHNOM PENH, Cambodia: Cambodian villagers on the Mekong River have caught a stingray fish weighing 661 pounds, which is the ...