Market watchdog Sebi has imposed a penalty of ₹7 crore on the stock exchange, NSE in the dark fibre case. A penalty of ₹5 crore each is levied on former NSE officials Chitra Ramakrishna and Anand Subramanian. In the case, a total of 18 entities received penalties.
A penalty of ₹6 crore was imposed on Way2Wealth Brokers, meanwhile, ₹5 crore was slapped on GKN Securities, and ₹3 crore on Sampark Infotainment.
Ravi Varanasi also faced a penalty of ₹5 crore.
Sebi imposed ₹1 crore penalty each on Nagendra Kumar SRVS, Deviprasad Singh, and R Shashibhushan. Further, ₹1.1 crore penalty each was imposed on Prashanth D’souza, Om Prakash Gupta, Sonali Gupta, and Rahul Gupta. Also, Rima Srivastava, Parshant Mittal, and Mohit Mutreja faced a penalty of ₹10 lakh each.
NSE and its former officials including other entities have been under Sebi’s radar over alleged irregularities.
Sebi earlier had formed a cross-functional team of officials to examine complaints alleging irregularities in the matter of co-location and corporate governance at NSE.
During this process, Sebi received another complaint that alleged irregularities with respect to certain brokers availing point to point dark fibre connectivity from Sampark Infotainment. Thereby, the regulator constituted an expert committee to examine the issue.
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