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

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.

Internet service provider Sampark Infotainment has been