'Co-location' case: CBI raids at 12 places, Mumbai, Gandhinagar and other places

- The case is likely to be linked to Chitra Ramakrishna, a former NSE chief and currently in jail.

New delhi date. May 21, 2022, Saturday

The CBI has raided several brokers in Delhi, Mumbai and Kolkata. The raids were carried out following reports of alleged misuse of NSE's location facility by these brokers. The Central Bureau of Investigation (CBI) has today launched a major probe into the NSE co-location scam. According to a report, the agency has conducted search operations at more than 10 locations in Delhi, Mumbai, Kolkata, Gandhinagar, Noida and Gurugram. All these places are associated with the brokers involved in this case.

The office of a top stock broker at Gandhinagar Gift City in Gujarat has been raided in this regard. An investigation is underway into the stock brokers who allegedly benefited from the NSE co-location.

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The case is likely to be linked to Chitra Ramakrishna, a former NSE chief and currently in jail. Chitra is accused of assisting a broker in a co-location case.

Last month, the ED raided nine locations in New Delhi and Gurugram in connection with a location case. An FIR was lodged in 2018 in the National Stock Exchange co-location case. In fact, some brokers at the country's premier National Stock Exchange, a hub for buying and selling stocks, were given the facility to know share prices a little earlier than others. Taking advantage of it, they were making huge profits. This was a violation of the NSE's demutualization and transparency framework. Insiders manipulated the brokers and gave them direct access by co-locating the server.

Read more: Chitra Ramakrishna finally arrested in NSE co-location case