SEBI wakes up to mess in Karvy, sleeps on Co-location scam
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India, Nov. 30 -- SEBI wants MCX to do an internal investigation to probe what led to the data theft. In other words, those involved will be investigated by those close to them and working in tandem. This has sparked outrage in Mumbai.
NEW DELHI: Market regulator Securities and Exchange Board of India (SEBI) has acted in a flash to stem the rot in Karvy Stock Broking, but is strangely silent on two of India's biggest co-location scandals at NSE and MCX, where the losses could have been way beyond market imagination, probably in the range of Rs 30,000-50,000 crore.
SEBI, it is now clear, has consigned the NSE scandal to the backstreets, as little is being heard about the scam that had rattled the markets. And now, SEBI has expressed its...
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