Sebi disposes of case against NSE, its former employees in co-location case
New Delhi, Sep 13: Sebi on Friday dismissed regulatory violation charges against the NSE and its seven former employees, including Chitra Ramkrishna and Ravi Narain, in the matter of the co-location facility, citing the absence of sufficient evidence.
"Due to the absence of sufficient material/evidence/objective facts on record in this case, the test of ‘preponderance of probability’ fails to produce enough justification for the establishment of collusion/connivance between OPG and its directors with Noticees (NSE and its seven employees)," Seb said in its 83-page order.
Apart from NSE, Ramkrishna and Narain, Sebi has dropped charges against Anand Subramanian, Ravindra Apte, Umesh Jain, Mahesh Soparkar and Deviprasad Singh.
The case relates to the alleged preferential access given to certain broking firms in the form of 'dark fibre' at the National Stock Exchange (NSE) to connect across the colocation facilities before other members.
The dark fibre or unlit fibre, with respect to network connectivity, refers to an already laid but unused or passive optical fibre, which is not connected to active electronics/equipment, and does not have other data flowing through it and is available for use in fibre-optic communication.
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Railway lines as fence could cut cost of barricading to curb man-elephant conflicts: MP Wadiyar
Bengaluru, Sept 17: MP Yaduveer Krishnadatta Chamaraja Wadiyar has suggested that to bring down the exorbitant cost barricading – estimated to cost around Rs 1.3 to Rs 1.5 crore per kilometre – railway lines could be used to construct fences on Tuesday.
Wadiyar took to X to share the letter he had sent to Union Environment Forest & Climate Change Minister Bhupendra Yadav.
Stating that “railway (lines) barricading” is proving to be an effective way to restrict the movement of elephants, he suggested that this should be taken up on a large scale.
“Upon consultation with the relevant authorities, it has come to my understanding that the cost of barricading per kilometre comes to Rs 1.3 crore to Rs 1.5 crore. Given that the border of the forests in my constituency stretches to over 400 km, with around 280 km of forest border requiring immediate barricading, the cost of such an exercise will reach Rs 350 crore to Rs 400 crore,” he wrote in his letter.
He said the environment ministry could make a direct request with the railway ministry for an allocation of railway lines, thus reducing the cost of the project to just that of labour cost.
“The benefits of this initiative are manifold, from reduction of human casualties, protection of property and livelihood, to conservation of elephants and, most importantly, promoting human-elephant coexistence, which is the need of the hour,” he added.
Working towards safer coexistence in Mysore-Kodagu! Submitted proposal to Union Environment Forest & Climate change Minister Shri Bhupendra Yadav Ji for railway barricading to reduce elephant-human conflicts. pic.twitter.com/VjOWIF1TTC
— Yaduveer Wadiyar (@yaduveerwadiyar) September 17, 2024
