Sebi bars NSE from securities market for 6 months in co-location case

Directs bourse to disgorge Rs 625 cr for lapses in co-location case

The Securities and Exchange Board of India (Sebi) on Tuesday directed the National Stock Exchange (NSE) to disgorge Rs 625 crore, along with interest at 12 per cent per annum since 2014, for lapses at its co-location (colo) facility, which allowed unfair access to certain brokers. The regulator also barred the exchange for a period of six months from accessing the securities market.
 
The markets regulator also came down heavily on NSE’s former managing directors (MDs) and chief executive officers (CEOs) Ravi Narain and Chitra Ramkrishna, who were at the helm when the exchange servers were exploited. Sebi asked