Co-location Scam: SEBI Drops Charges Against NSE's Former MD and CEO: Securities and Exchange Board of India

In a significant ruling, the Securities and Exchange Board of India (SEBI) has dropped proceedings against several high-profile former executives of the National Stock Exchange (NSE). The decision was made by SEBI Whole Time Member Kamlesh C Varshney after finding that the evidence available was insufficient to substantiate the allegations of collusion and misconduct. Case Background: The co-location facility, introduced by NSE in 2009, allowed brokers to place their servers…