Colo fraud: Will CBI do what Sebi did not?

Last Thursday, the Central Bureau of Investigation (CBI) filed a charge sheet against Chitra Ramkrishna, former chief executive officer (CEO) of the National Stock Exchange (NSE), and Anand Subramanian, former group operating officer (GOO), in connection with the co-location (colo) fraud case at the exchange. The charge sheet named the two for allegedly providing preferential and unfair access to the NSE’s trading system to some brokers. It also alleged that key information — such as the NSE’s organisational structure, dividend scenario, financial results, human resources policy, response to the regulator, and future projects — was sent to an external email

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