SEBI sends INR 53.5-mln demand notice to OPG Sec in NSE co-location case
This story was originally published at 19:55 IST on 10 June 2025
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NEW DELHI – The Securities and Exchange Board of India Monday sent a demand notice to OPG Securities Pvt. Ltd. and three of its directors to pay INR 53.5 million, after they apparently failed to pay a penalty of INR 52 million imposed in an order dated Apr. 2 for violation of regulations and circulars in the co-location case pertaining to the National Stock Exchange of India. SEBI had issued an adjudication order on Apr. 2 imposing a monetary penalty on the brokerage firm, and directors Sanjay Gupta, Sangeeta Gupta and Om Prakash Gupta, and had directed them to pay the amount in 45 days.
The Apr. 2 order by SEBI was in connection with the appeal filed by OPG Securities and the three officials against SEBI's adjudication order dated Feb. 11, 2021 imposing penalties of INR 52 million, and ordering them to disgorge unlawful gains of INR 155.7 million. Subsequently, the Securities Appellate Tribunal, in its order dated Jul. 12, 2023, set aside the disgorgement part, directing SEBI to decide the quantum of the penalty afresh. SEBI then decided to impose the same amount of penalty and accordingly issued its adjudication order on Apr. 2. End
Reported by Rajesh Gajra
Edited by Nishant Maher
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