Check out the video on #NSEColocationScam.#Sanjay Gupta was detained for the NSE co-location scam by the #CBI. Watch all the latest updates on Planify.

Securities and Exchange Board of India (SEBI)

The Securities and Exchange Board of India (SEBI) recently unveiled a new logo on the occasion of its 35th anniversary.

About SEBI

SEBI has been successful in its functions:

Function: Example of SEBI’s success

Protection of investors’ interests: SEBI has taken action against fraudulent collective investment schemes  to protect investors’ interests e.g., Action against the Sahara group (2013)

Impressive rise: Assets under the management of mutual funds, the total number of dematerialized accounts, dematerialized turnover, the number of derivatives contracts, etc, have all grown exponentially.

The smooth functioning of the securities market: SEBI has introduced online trading platforms and electronic clearing services

Regulation of securities market operations:  SEBI has introduced regulations for insider trading, delisting of securities, and disclosure and investor protection guidelines

Education of investors: SEBI‘s ‘Jan Jagruti Abhiyaan’ to educate investors about the securities market and their rights as investors.

Prohibition of fraudulent and unfair trade practices: SEBI has taken action against market manipulations and price rigging. In 2015, SEBI ordered a probe into suspected rigging of the National Stock Exchange’s (NSE) algo-trading systems and imposed a penalty of Rs 1,000 crore on NSE for its role in the co-location case.

Ensuring compliance by market participants: In 2018, SEBI fined ICICI Bank and its CEO Chanda Kochhar for violating disclosure norms related to a loan given to Videocon Group.

Tackling insider trading: In 2017, SEBI imposed a penalty on Reliance Industries for alleged insider trading in Reliance Petroleum shares in 2007.

Limitations of SEBI

SEBI has certain limitations in terms of its reach, enforcement powers, coordination with other regulatory bodies, resources, and keeping up with changing market dynamics. These limitations can create regulatory gaps and overlaps, leading to delays in the resolution of cases.

Examples

SEBI’s alleged inaction in the Ketan Parekh scam and Satyam scandal

SEBI’s inability to prevent the NSEL scam

Failure of SEBI’s regulations to prevent the misuse of participatory notes (P-notes) by foreign investors

Conclusion:

There is a need for continuous monitoring and improving market intelligence to strengthen enforcement. Also, India’s financial markets are still segmented, and a unified financial regulator may be required to remove overlaps and excluded boundaries.

Read more: https://iasnext.com/securities-and-exchange-board-of-india-sebi-upsc-current-affairs/

Delhi HC grants bail to Chitra Ramkrishna, Anand Subramanian in NSE co-location case - Times of India

Delhi HC grants bail to Chitra Ramkrishna, Anand Subramanian in NSE co-location case – Times of India

NEW DELHI: The Delhi High Court on Wednesday granted bail to former National Stock Exchange (NSE) head Chitra Ramkrishna and ex group operating officer Anand Subramanian in the co-location scam case being probed by the CBI. Justice Sudhir Kumar Jain said he was granting “statutory bail” to the two former officials of the NSE. A detailed copy of the order is awaited. An FIR was registered in the…

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Delhi HC grants bail to Chitra Ramkrishna, Anand Subramanian in NSE co-location case

Delhi HC grants bail to Chitra Ramkrishna, Anand Subramanian in NSE co-location case

NEW DELHI: The Delhi High Court on Wednesday granted bail to former National Stock Exchange (NSE) head Chitra Ramkrishna and ex group operating officer Anand Subramanian in the co-location scam case being probed by the CBI. Justice Sudhir Kumar Jain said he was granting “statutory bail” to the two former officials of the NSE. A detailed copy of the order is awaited. An FIR was registered in the…

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Delhi HC grants bail to Chitra Ramkrishna, Anand Subramanian in NSE co-location case

Delhi HC grants bail to Chitra Ramkrishna, Anand Subramanian in NSE co-location case

Last Updated: September 28, 2022, 12:03 IST The Delhi High Court on Wednesday granted bail to former National Stock Exchange (NSE) head Chitra Ramkrishna and ex group operating officer Anand Subramanian in the co-location scam case being probed by the CBI. Justice Sudhir Kumar Jain said he was granting “statutory bail” to the two former officials of the NSE. A detailed copy of the order is…

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ED arrests former NSE CEO Ravi Narayan in money laundering case

ED arrests former NSE CEO Ravi Narayan in money laundering case

The Enforcement Directorate on Tuesday arrested former NSE CEO and MD Ravi Narayan in a money laundering case. His role is being investigated by the Federal Investigation Agency as part of two criminal cases – the alleged co-location ‘scam’ case and the alleged illegal phone tapping of employees. Narayan is understood to have been arrested in the tapping case under criminal sections of the…

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ED Arrested Former Mumbai Police Commissioner Sanjay Pandey In National Stock Exchange NSE Co Location Scam Case

ED Arrested Former Mumbai Police Commissioner Sanjay Pandey In National Stock Exchange NSE Co Location Scam Case

NSE Co-Location Scam Case: मुंबई के पूर्व पुलिस कमिश्नर संजय पांडे (Sanjay Pandey) को प्रवर्तन निदेशालय ने लंबी पूछताछ के बाद मनी लॉन्ड्रिंग एक्ट के तहत नेशनल स्टॉक एक्सचेंज को लोकेशन घोटाले मामले (NSE Co-Location Scam Case) में गिरफ्तार कर लिया. पूर्व पुलिस कमिश्नर को बुधवार को दिल्ली की विशेष अदालत के सामने पेश किया जाएगा जहां पर ईडी उन्हें हिरासत में लेकर पूछताछ करने की अपील करेगी. इस मामले…

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Sanjay Pandey Arrested ED arrest EX Mumbai Police Commissioner Sanjay Pandey in connection with NSE co-location scam case

Sanjay Pandey Arrested ED arrest EX Mumbai Police Commissioner Sanjay Pandey in connection with NSE co-location scam case

Image Source : ANI Former Mumbai Police Commissioner Sanjay Pandey Arrested Sanjay Pandey Arrested: Former Mumbai Police Commissioner Sanjay Pandey has been arrested by the ED on Tuesday. He has been arrested under the Money Laundering Act. Sanjay Pandey today appeared before the ED for questioning in a money laundering case related to phone tapping of employees of the National Stock Exchange…

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मुंबई के पूर्व आयुक्त संजय पांडे को ईडी ने किया गिरफ्तार

मुंबई के पूर्व आयुक्त संजय पांडे को ईडी ने किया गिरफ्तार

NSE Co-Location Scam Case: मुंबई के पूर्व पुलिस कमिश्नर संजय पांडे को ईडी ने आज गिरफ्तार कर लिया. उन्हें मनी लॉन्ड्रिंग एक्ट के तहत गिरफ्तार किया गया है. संजय पांडे नेशनल स्टॉक एक्सचेंज (एनएसई) के कर्मचारियों की कथित फोन टैपिंग से जुड़े मनी लॉन्ड्रिंग के मामले में पूछताछ के लिए आज ईडी के सामने पेश हुए थे. उनसे सोमवार को भी एजेंसी ने पूछताछ की थी.  पांडे 30 जून को रिटायर हो गए थे. मुंबई के पुलिस…

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ED summons ex-Mumbai Police Commissioner Sanjay Pandey in NSE-co location case

Jul 15, 2022 06:45 IST Mumbai (Maharashtra) , July 15 (Always First): Enforcement Directorate summoned former Mumbai Police Commissioner Sanjay Pandey today in NSE-co location case. He has been asked to appear before them in Delhi for questioning in the illegal phone tapping of an NSE personnel matter. On July 9, the Central Bureau of Investigation (CBI) questioned Sanjay Pandey in connection with the illegal phone tapping of National Stock Exchange (NSE) employees. On Friday, following the orders of the Ministry of Home Affairs (MHA), CBI registered a fresh case in the alleged NSE co-location scam that involves the phone tapping of NSE employees. A senior CBI official informed that searches are underway across the country. The fresh First Information Report (FIR) mentioned the names of former NSE Chief Chitra Ramakrishna, Ravi Narain and former Mumbai Commissioner Sanjay Pandey for allegedly tapping the phones of NSE officials and other irregularities. According to a CBI official, it was said that Pandey was not reachable but he himself appeared for CBI's interrogation. Pandey is a 1986-batch Indian Police Service (IPS) officer who retired from service on June 30. During the investigation, it has been found that Pandey is closely related to the functioning and activities of a company called Isec Securities Pvt. Ltd. The company had conducted a security audit of NSE around the time when alleged irregularities had taken place. Isec Securities company was incorporated by Pandey in March 2001 and he quit as its director in May 2006. His son and mother took over the charge of the company. It has been alleged that illegal phone tapping of NSE employees was done between 2009-17. (Always First) Read the full article

IT firm linked to former Mumbai CP didn’t red-flag NSE server breach: CBI

IT firm linked to former Mumbai CP didn’t red-flag NSE server breach: CBI

The CBI, which registered a case in 2018 in the NSE co-location scam, is probing how an audit company incorporated in 2001 by Sanjay Pandey, who last week retired as Commissioner of Police, Mumbai, did not red flag that the NSE servers were compromised. The compromise had allowed one of the trading companies to get unfair access to the system, resulting in windfall profits. When the firm iSec…

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Retail investors have made it a religion to run after stock names in their bid to strike rich

Retail investors have made it a religion to run after stock names in their bid to strike rich

Please give us some equity stock names, they would ask. This was a classroom on investing, in the early 1990s, fresh after the scam and the beginning of reforms. We still did not have the NSE, electronic trading or NSDL and demat. But we already had Sebi. And the government had done away with the Controller of Capital Issues (CCI). The markets were flooded with IPOs. That is why everyone who knew…

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ED arrests former NSE CEO Ravi Narain in money-laundering case - Times of India

ED arrests former NSE CEO Ravi Narain in money-laundering case – Times of India

NEW DELHI: The Enforcement Directorate on Tuesday arrested former NSE CEO and MD Ravi Narain in a money laundering case, officials said. His role is being investigated by the federal probe agency as part of two criminal cases linked to the bourse – the alleged co-location ‘scam’ case and the purported illegal phone tapping of employees. Narain is understood to have been arrested in the tapping…

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ED arrests former NSE CEO Ravi Narain in money-laundering case

NEW DELHI: The Enforcement Directorate on Tuesday arrested former NSE CEO and MD Ravi Narain in a money laundering case, officials said. His role is being investigated by the federal probe agency as part of two criminal cases linked to the bourse – the alleged co-location ‘scam’ case and the purported illegal phone tapping of employees. Narain is understood to have been arrested in the tapping…

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NSE Scam: एनएसई घोटाले में 'हिमालय का योगी' गिरफ्तार! चित्रा रामकृष्ण लेती थी उनसे सलाह

NSE Scam: एनएसई घोटाले में ‘हिमालय का योगी’ गिरफ्तार! चित्रा रामकृष्ण लेती थी उनसे सलाह

हाइलाइट्स NSE घोटाले में आनंद सुब्रमण्यम को सीबीआई ने गिरफ्तार किया एनएसई की पूर्व सीईओ चित्रा रामकृष्ण के चीफ स्ट्रेटजिक ऑफिसर थे संदेह है कि हिमालय का योगी कोई और नहीं बल्कि सुब्रमण्यम ही हैं   नई दिल्ली: सीबीआई ने नैशनल स्टॉक एक्सचेंज (NSE) में कथित अनियमितताओं के मामले में आनंद सुब्रमण्यम को गिरफ्तार कर लिया है। वह एनएसई की पूर्व सीईओ और एमडी चित्रा रामकृष्ण (Chitra Ramkrishna) के चीफ…

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Former Police Commissioner Of Mumbai Sanjay Pandey In Trouble As CBI Gets Important Evidence In NSE Scam Case Ann

Former Police Commissioner Of Mumbai Sanjay Pandey In Trouble As CBI Gets Important Evidence In NSE Scam Case Ann

CBI: एनएसई (NSE) सीओ रवि नारायण (Ravi Narayan) और एमडी चित्रा रामकृष्ण (Chitra Ramakrishna) सहित एनएसई के पूर्व शीर्ष अधिकारियों ने मुंबई के पूर्व पुलिस कमिश्नर संजय पांडे (Sanjay Pandey) की बनाई कंपनी के लिए काम किया था. पांडे की कंपनी iSEC ने शेयर बाजार के कर्मचारियों के फोन अवैध रूप से इंटरसेप्ट किए. केंद्रीय गृह मंत्रालय के कहने पर प्राथमिकी दर्ज करने के बाद सीबीआई (CBI) ने शुक्रवार को 18…

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