Business

Former NSE CEO Chitra Ramakrishna’s troubles related to mysterious Yogi increased, SEBI fined

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chitra ramkrishna

The trouble of Chitra Ramakrishna, former CEO of NSE, who worked on the behest of the mysterious Yogi, has increased. SEBI has fined many people Chitra Ramakrishna Semat in the ‘dark fiber’ case. Sebi has imposed a total fine of Rs 44 crore on 18 entities including NSE business development officer Ravi Varanasi, former managing director and CEO Chitra Ramakrishna and his advisor Subramanian Anand and some stockbrokers.

Two stock brokers also measured

Besides NSE and its former officials, SEBI has also imposed fine on stock brokers Way to Wealth Brokers and GKN Securities and Sampark Infotainment and their employees. The regulator has imposed a penalty of Rs 7 crore on NSE. Along with this, a fine of Rs 5 crore each has been imposed on Ramakrishna, Varanasi and Subramaniam Anand. Besides this, SEBI has imposed a penalty of Rs 6 crore on WetoWealth Brokers, Rs 5 crore on GKN Securities and Rs 3 crore on Sampark Infotainment.

Order to deposit amount within 45 days

According to a Sebi order passed on Tuesday, they have been asked to pay the total amount of the fine within 45 days. The matter pertains to giving earlier access to information to some broking companies in the form of ‘dark fiber’ in NSE as compared to other members. Under this, they were given the facility to join the ‘Collation’ facility in comparison to other members. ‘Dark fiber’ or unit fiber as a network connectivity means a network which is already available but not used. It is not connected to active electronics/equipment and data does not flow through them and is available for use in ‘Fiber Optic Communication’.

Investigation revealed that benefits were wrongly taken

The market regulator had initiated a probe into the transactions of several entities for the period 2009 to 2016 to look into the issue of NSE facilitating linkages to certain stockbrokers in a manner that would be beneficial to investors or securities market. can be harmful. Sebi said in its order, Way Two Wealth and GKN in connivance with the employees of NSE and Sampark have made undue gains by getting the data available with them at some earlier times than others. Those who were fined by SEBI are Nagendra Kumar SRVS, Deviprasad Singh and MR Shashibhushan, Prashant D’Souza, Om Prakash Gupta, Sonali Gupta, Rahul Gupta, Netaji Patil, Reema Srivastava, Prashant Mittal, Mohit Mutreja.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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