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regular-article-logo Thursday, 25 April 2024

Sebi penalises NSE, former chief Chitra Ramkrishna, 16 others in 'dark fibre' case

They have been asked to pay the penalty amount within 45 days, according to a Sebi order passed on Tuesday

PTI New Delhi Published 30.06.22, 03:30 AM
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Sebi has imposed a penalty totalling Rs 44 crore on 18 entities, including National Stock Exchange (NSE), its business development officer Ravi Varanasi, former MD and CEO Chitra Ramkrishna and her adviser Subramanian Anand along with certain stock brokers in the ‘dark fibre’ case.

Apart from the NSE and its former officials, others penalised by Sebi are stock brokers — Way2Wealth Brokers and GKN Securities — Sampark Infotainment and their respective employees.

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The regulator has imposed a penalty of Rs 7 crore on the NSE, Rs 5 crore each on Ramkrishna, Varanasi and Subramanian Anand, who was group operating officer and adviser to the then MD, Ramkrishna.

Sebi also levied a fine of Rs 1 crore each on Nagendra Kumar SRVS and Deviprasad Singh. Further, Sebi has slapped a fine of Rs 6 crore on Way2Wealth Brokers, Rs 5 crore on GKN Securities and Rs 3 crore on Sampark Infotainment.

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