NSE manipulation: Delhi brokerage firm owner held

Sources said Gupta was arrested since recent investigations into the case revealed that he had not only destroyed some evidence but also attempted to bribe officials of Security and Exchange Board of India (SEBI) when it was probing issues associated with NSE. “Evidence has surfaced that he either bribed or attempted to bribe SEBI officials through a syndicate in Mumbai. We need to question him about that,” a CBI official said.

Gupta is the key and original accused in the 2018 FIR of the CBI which is also known as the NSE co-location case. It was only this year that Ramkrishna and others began being probed in the case by the CBI.

The CBI’s case pertains to charges of brokers being given 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 obtained faster access to NSE’s data feed. The agency in April filed a chargesheet against Chitra Ramkrishna, former CEO and MD of NSE, and former NSE COO Anand Subramanian in connection with its case.