NSE Co-location Scam: New Developments and Key Players

The Central Bureau of Investigation (CBI) has intensified its scrutiny over the NSE co-location scam by filing a supplementary chargesheet against numerous brokers, sources revealed on Tuesday.

This move extends the agency's ongoing investigation into those who might have illictly profited from the scheme, following its earlier chargesheet against ex-NSE Managing Director Chitra Ramkrishna and others, submitted in 2022.

This recent chargesheet, presented before a special court on Monday, outlines the involvement and methods used by brokerage firms in the scandal. Previously, in May 2018, the CBI registered a case against stock trader Sanjay Gupta and OPG Securities for criminal conspiracy, leveraging sections of the Information Technology Act and the Prevention of Corruption Act. The allegations suggest that NSE officials allowed OPG Securities privileged access to market data, exploiting the system for financial gain.

(With inputs from agencies.)