NSE Co-location Case: CBI Arrests Main Accused Sanjay Gupta Of OPG Securities

Sanjay Gupta allegedly tried to destroy evidence and also bribe SEBI officials investigating the NSE Co-location scam case, officials said on Wednesday.

New Delhi:  After the Central Bureau of Investigation (CBI) carried out search operations in multiple cities in connection with the NSE Co-location scam, the agency has arrested Sanjay Gupta, owner and promoter of Delhi-based OPG Securities Pvt Ltd on Tuesday, according to officials, reported news agency PTI.  Gupta was arrested four years after the agency had registered the FIR in the Co-location scam case against him and his company. Going by the recent CBI probe, he allegedly tried to destroy evidence and also bribe SEBI officials investigating the NSE Co-location scam case, officials said on Wednesday.

Gupta has been arrested in connection to the NSE Co-location scam in which brokers allegedly abused the facility to make gains by getting early access to the stock market. It is alleged Gupta approached a “syndicate” through which he tried to influence SEBI officials, according to officials. Earlier, the CBI had arrested Chitra Ramkrishna, former CEO and Managing Director of NSE, and Anand Subramanian, former Group Operating Officer of the market. 

The central agency has filed a chargesheet against former National Stock Exchange (NSE) CEO and MD Chitra Ramkrishna and group operating officer Anand Subramanian in the case, the officials said.

The agency has been interrogating unidentified officials of the Securities and Exchange Board of India (SEBI) and the National Stock Exchange (NSE), Mumbai, and other unknown persons.

 “It was alleged that the owner and promoter of said private company abused the server architecture of NSE in conspiracy with unknown officials of NSE,” the CBI has alleged in the FIR. “It was also alleged that unknown officials of NSE, Mumbai had provided unfair access to the said company using the co-location facility during the period 2010-2012 that enabled it to login first to the exchange server of Stock Exchange that helped to get the data before any other broker in the market,” the CBI added in its FIR.