Sebi slaps heavy penalties in NSE 'dark fibre' case, bourse fined Rs 7 cr

NSE has been slapped with a penalty of Rs 7 cr, its former MD and CEO Chitra Ramkrishna, former Group COO Subramanian and current Chief BDO Ravi Varanasi Rs 5 cr each

Sebi has ordered former CEO of the NSE, Chitra Ramkrishna, and three others to pay back 25% of their salaries for the period involving the scam

Chitra Ramkrishna, former Managing Director and Chief Executive Officer (CEO) of NSE.

Samie Modak Mumbai
The Securities and Exchange Board of India (Sebi) has slapped heavy penalties in a 2015 ‘dark fibre’ case that saw certain brokers exploiting the National Stock Exchange’s (NSE’s) internet infrastructure to get faster connectivity to its colocation (colo) facilities.  

The markets regulator has imposed a penalty of Rs 7 crore on NSE and Rs 5 crore on former Managing Director and Chief Executive Officer (CEO) Chitra Ramkrishna.

It has also levied a fine of Rs 5 crore each on former Group Operating Officer Anand Subramanian and current Chief Business Development Officer Ravi Varanasi.

First Published: Jun 29 2022 | 12:26 PM IST

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