The CBI has arrested Sanjay Gupta of brokerage firm OPG Securities in the 2018 National Stock Exchange (NSE) manipulation case involving former exchange CEO Chitra Ramkrishna.
Sources said Gupta was arrested as recent investigations into the case revealed that he had not only destroyed some evidence but also tried to bribe officials at the Security and Exchange Board of India (SEBI) amid NSE-related issues examined. “Evidence has surfaced that he either bribed or attempted to bribe SEBI officers through a syndicate in Mumbai. We need to question him about it,” a CBI official said.
Gupta is the lead and original defendant in the CBI’s 2018 FIR, also known as the NSE colocation case. It was only this year that the CBI began investigating Ramkrishna and others in the case.
The CBI’s case relates to fees charged by brokers who were granted preferential access to NSE’s trading system in the form of a co-location facility through which they bought “rack space” for their servers. According to the agency, these traders were given faster access to NSE’s data feed. The agency filed an indictment in April against former NSE CEO and MD Chitra Ramkrishna and former NSE COO Anand Subramanian in connection with their case.
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