 "Sebi")
The Securities and Exchange Board of India (Sebi) imposed a penalty of Rs 11 crore on eight entities for violation of corporate governance and wrongful sharing of data by the National Stock Exchange (NSE) for development of software on algorithm trading.
The case dates back to a period between 2009 and 2016 when the exchange engaged with academician Ajay Shah and Infotech Financial Services (where Sunita Thomas and Krishna Dagli were directors).
It has been alleged that Shah and Infotech used confidential and sensitive data of NSE for the purpose of developing algorithmic trading software and sale of the same to market
