SEBI slaps Rs 7-Cr penalty on NSE, Rs 5-Cr on Chitra Ramakrishna
SEBI slaps Rs 7-Cr penalty on NSE, Rs 5-Cr on Chitra Ramakrishna

In connection with the NSE co-location case, the Securities and Exchange Board of India (Sebi) levied fines against the National Stock Exchange (NSE), Chitra Ramakrishna, Anand Subramanian, and others. SEBI slapped a penalty of Rs 7 Cr on NSE, Rs 5 cr on Chitra Ramakrishna, Rs 5 Cr on Ravi Varanasi and Rs 5 cr on Anand Subramanian.

In addition, the board has also fined Rs 1 Cr each to Nagendra Kumar SRVS, MR Shashibhushan, Deviprasad Singh, and, Rs 1.10 Cr to Prashanth D'souza, Om Prakash Gupta, Sonali Gupta, Rahul Gupta, Rs 3 Cr to Sampark Infotainment Pvt. Ltd, Rs 5 Cr on GKN Securities, and Rs 6 Cr on Way2Wealth Brokers Private Ltd. Rs 10 lakh fine has been imposed on Netaji Patil, Rima Srivastava, Parshant Mittal, Mohit Mutreja. 

Within 45 days of receiving the order, SEBI has instructed the notices to pay the full amount of the penalty either demand draught or online.

In a previous SEBI order, it was stated that the agency came across documentary evidence that Ramkrishna had sent emails to a "unknown person" in the years between 2014 and 2016 containing internal NSE data, such as the organization's structure, dividend scenario, financial results, human resources policy, and related issues.

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