Ravi Narain News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The former journalist's appointment has been welcomed but it hasn't come without its share of controversies.

Piecemeal chargesheet, incomplete investigations, distortion and digression from the original case, a sheer testimony of the massive failure of India's premier investigative agency emanates from the court records. CBI's arrest memo of Chitra Ramkrishna and charge-sheet filed against her had no connection, Ravi Narain was never arrested in co-location scam at all, , NSE Scam Probe, Piecemeal chargesheet, Piecemeal

The Supreme Court has rejected the National Stock Exchange's (NSE) request to halt the payment of a Rs 100 crore ($13.6 million) penalty imposed by the Securities Appellate Tribunal (SAT) for system lapses in a colocation case. The court has asked the Securities and Exchange Board of India (SEBI) to respond to the issue. In July, SAT overturned SEBI's penalty and set aside fines imposed on former NSE chiefs Ravi Narain and Chitra Ramakrishna. The case involves alleged preferential access given by NSE to certain brokers.

The case relates to co-location scam, wherein some brokers had gained unfair advantage by securing fast access to NSEs systems, data and trading facilities at the cost of the broader market.

The Securities and Exchange Board of India (Sebi) is mulling changes to the 'fit & proper' criteria for market infrastructure institutions (MIIs), such as stock exchanges, in a bid to segregate the role of an individual from the entity, said sources. Under the current framework, wrongdoing by senior personnel could lead to a debarment of the MIIs such as stock exchanges, depository participants and clearing members-with quite a few such instances in the past. Additionally, Sebi is also mulling to introduce a clause through which any order passed against an MII will not affect their operations,...