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ED raids multiple locations in NSE co-location case

April 08, 2022 13:24 IST
Source:PTI

The Enforcement Directorate on Friday conducted multiple raids in connection with its money laundering probe into the alleged irregularities in the National Stock Exchange (NSE) co-location case, officials said.

Photograph: Danish Siddiqui/Reuters

The central probe agency is covering nine premises in Delhi and neighbouring Gurugram including those of some brokers involved in the case, they said.

The raids are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA).

 

The agency had registered a money laundering case to probe the alleged irregularities in 2019.

The CBI had recently arrested former NSE managing director and chief executive officer Chitra Ramkrishna and group operating officer (GOO) Anand Subramanian in this case.

The Income tax department too is probing the case.

The Securities and Exchange Board of India (SEBI) began its probe into the matter in early 2015 after it was brought to light by a 'whistle-blower' that some brokers were allegedly getting preferential access through co-location facility, early login and 'dark fiber' which can allow a trader a split-second faster access to data feed of an exchange.

 

Source: PTI
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