On Tuesday, March 29, Finance Minister Nirmala Sitharaman announced that CBI has made some substantial progress in the NSE co-location case.
In a written reply to Rajya Sabha, the finance minister said that some irregularities were found during the investigation in functioning of NSE. “CBI has also registered a case in the matter in the year 2018 under relevant sections of India Penal Code, 1860, Prevention of Corruption Act, 1988 and Information Technology Act, 2000. The CBI investigation is still going on. CBI has informed that substantial progress has been made in the investigation of the case,” said Sitharaman in Rajya Sabha.
The minister also stated that NSE’s former CEO Chitra Ramakrishna & other top officials have been held responsible for the violation of Securities Contracts Regulations.
In 2018, an FIR was filed against NSE. It was revealed that a mysterious yogi used to control the country’s largest stock market. Many changes have been made in the structure if market to avoid this cases again. “Sebi and the stock exchanges have put in place necessary systems and practices to promote a safe, transparent and efficient market and to protect market integrity,” said the finance minister.
