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The Supreme Court has rejected the National Stock Exchange s (NSE) request to halt the payment of a Rs 100 crore ($13.6 million) penalty imposed by the Securities Appellate Tribunal (SAT) for system lapses in a colocation case. The court has asked the Securities and Exchange Board of India (SEBI) to respond to the issue. In July, SAT overturned SEBI s penalty and set aside fines imposed on former NSE chiefs Ravi Narain and Chitra Ramakrishna. The case involves alleged preferential access given by NSE to certain brokers. ....
SEBI vs NSE, Co-Location Scandal: In 2013, some high-frequency traders manipulated the platform to execute 'thousands of orders' without being detected and crowding out other users ....
Sources in the directorate confirmed the arrest had taken place earlier today of the former managing director and chief executive officer of India's largest stock exchange, a position he held from 1994 to 2013. ....
Former MD & CEO of NSE Chitra Ramakrishna is currently under the custody of CBI alongwith her colleague and Group Operating Officer (GOO) during her tenure Anand Subramanian. ....