NSE Fined Rs 50 Lac in Defamation Case against Moneylife

Alchemist

Administrator
Staff member
#1
The defamation case related to the publication of a whistleblower’s letter in Moneylife’s web portal that laid bare how certain NSE officials were giving undue advantage to specific brokers in their co-location facility set up for high-frequency trading (HFT).
http://www.moneylife.in/article/nse...pays-rs50-lakh-as-cost-and-penalty/51608.html

Instead of accepting and correcting the fraud going on in their exchange, NSE's management tried to prevent the media from reporting about it.

If I were the judge, I would have fined them Rs 5 crore.
 

ramkasi

Active member
#2
http://www.moneylife.in/article/nse...pays-rs50-lakh-as-cost-and-penalty/51608.html

Instead of accepting and correcting the fraud going on in their exchange, NSE's management tried to prevent the media from reporting about it.

If I were the judge, ............
Iinformative article.

There must be some law which gives power to honorable judges to impose a fixed penalty say about 500% of what the petitioner asked for as defamation. ;) if he withdraws case before judgement.

ramK
 

Atiker

Active member
#3
Iinformative article.

There must be some law which gives power to honorable judges to impose a fixed penalty say about 500% of what the petitioner asked for as defamation. ;) if he withdraws case before judgement.

ramK
1.5 Lakh each to Debashis Basu and Sucheta Dalal is peanuts.

They should have been compensated more.

Number of hours these 2 wasted in fighting and preparing for the case should be taken into account and multiplied by 2-5 times the per hour rates they charge their high end customers.

And yes penalty that goes to charity should be 500% of what the petitioner asked for defamation for all frivolous cases.

And the money should not be paid from the coffers of the company but from the salary and perks of the CEO and top management.
 
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