Markets regulator Sebi on Tuesday asked NSE, the largest stock exchange in India, to pay about Rs 1,100 crore for favouring a few brokers to make illegal gains by using unauthorised trading software, networks and servers in the same room where the exchange’s main trading servers were located. Sebi also banned Ravi Narain and Chitra Ramkrishna, both former MDs of the exchange, from the market for five years each and also asked them to disgorge part of their salaries for the years when NSE had demonstrated favouritism to three brokers, OPG Securities, GKN Securities and Way2Wealth Securities, over all other brokers.
Markets regulator Sebi on Tuesday asked NSE, the largest stock exchange in India, to pay about Rs 1,100 crore for favouring a few brokers to make illegal gains by using unauthorised trading software, networks and servers in the same room where the exchange’s main trading servers were located. Sebi also banned Ravi Narain and Chitra Ramkrishna, both former MDs of the exchange, from the market for five years each and also asked them to disgorge part of their salaries for the years when NSE had demonstrated favouritism to three brokers, OPG Securities, GKN Securities and Way2Wealth Securities, over all other brokers.
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