The CBI has arrested Sanjay Gupta of brokerage firm OPG Securities in a 2018 National Stock Exchange (NSE) manipulation case involving former board CEO Chitra Ramakrishna.
Sources said Gupta was arrested as a recent investigation into the case revealed that he not only destroyed some evidence but also tried to bribe officials of the Securities and Exchange Board of India (SEBI) while it was investigating matters related to the NSE. “Evidence has been found that he bribed or tried to bribe SEBI officials through a syndicate in Mumbai. We need to interrogate him, ”said a CBI official.
Gupta is the main accused in the CBI’s 2018 FIR, also known as the NSE co-location case. Earlier this year, the CBI launched an investigation into the case against Ramakrishna and others.
The CBI case relates to allegations that brokers were given preferential access to the 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 have gained quick access to the NSE’s data feed. The agency had in April filed charges against Chitra Ramakrishna, former CEO and MD of NSE, and Anand Subramanian, former CEO of NSE.