NEW DELHI: Hearing a plea alleging that nothing ‘substantial’ happened in the NSE-co-location case, the Delhi High Court has asked the Central Bureau of Investigation (CBI) to file an affidavit with the latest update on the NSE Co-location scam case.A bench presided over by Chief Justice Satish Chandra Sharma and also comprising Justice Subramonium Prasad was hearing a petition filed by journalist Shantanu Guha Ray.
As per Ray’s plea, despite the whistle-blower providing details of the alleged scam nearly three-and-half years back, nothing happened in the matter. During the course of the hearing, it was submitted by Ray’s counsel that earlier, a status report in a sealed cover was filed regarding the matter. However, no action has been taken, the counsel argued.
The plea alleged that even though the scam involves several thousand crores, no substantial action has been taken. Per contra, CBI responded that a case has already been registered and the investigation is likely to be completed in six to eight months. According to the probe agency, a status report has already been filed by it in the matter and it now wants to file another status report in a sealed cover.
The case is in connection with an anonymous complaint in January 2015. As per the allegations, it was conceptualised and implemented in 2009 when Ramkrishna was joint MD of NSE. It means that a market participant places his server next to the exchange server rack, allowing him to execute orders and get exchange price feeds quicker.