Ramkrishna had stepped down as the managing director and CEO of the NSE on December 2016. A similar two-year ban was imposed on Sunita’s husband Suprabhat Lala, former associate vice-president of the NSE. “The data so received from NSE was being misused for the purpose of developing algo based trading software for their commercial gains,” Mohanty said. It may be recalled that Sebi has been investigating alleged lapses in high-frequency trading offered through the NSE’s co-location facility. A spokesperson for NSE said, “NSE is in the process of examining the Sebi order passed on Tuesday and will take appropriate steps as may be legally advised.”

Source: The Telegraph April 30, 2019 19:07 UTC