SEBI fines NSE Rs. 7 billion and Chitra Ramakrishna Rs. 5 billion

0
21

 

The National Stock Exchange (NSE), Chitra Ramakrishna, Anand Subramanian, and others were fined by the Securities and Exchange Board of India (Sebi) in the NSE co-location case. NSE received a fine of Rs. 7 crore from SEBI, along with fines of Rs. 5 crore each for Chitra Ramakrishna, Ravi Varanasi, and Anand Subramanian.

In addition, the board penalised Nagendra Kumar SRVS, MR Shashibhushan, Deviprasad Singh, and Prashanth D’souza $1.10 million apiece, as well as Sampark Infotainment Pvt. Ltd. $3 million, GKN Securities $5 million, and Way2Wealth Brokers Private Ltd. $6 million. Netaji Patil, Rima Srivastava, Parshant Mittal, and Mohit Mutreja each received a fine of Rs. 10 lakh.

SEBI has asked the notices to pay the entire amount of the penalty via demand draught or online within 45 days of receiving the order.

In a prior SEBI order, it was stated that the organisation discovered documentary evidence that Ramkrishna had sent emails to a “unknown person” between the years of 2014 and 2016 containing information about the internal NSE, including the organization’s structure, dividend scenario, financial results, human resources policy, and related matters.