The Supreme Court on Tuesday rejected the petition filed by Ms. Chitra Ramkrishna, which challenged a High Court ruling in the National Stock Exchange (NSE) co‑location scam case. Senior advocate Balbir Singh appeared on behalf of the petitioner and maintained that NSE, being a private entity, does not perform a public duty, thereby negating the basis for her claim.
The co‑location scam has drawn attention to alleged irregularities in NSE’s infrastructure services, prompting investigations into possible fraudulent practices. Ramkrishna’s appeal was premised on the belief that the High Court had overstepped its jurisdiction by imposing penalties on the private exchange.
The Supreme Court’s decision to refuse hearing the appeal keeps the High Court’s order intact, ensuring that any penalties or directives issued against NSE remain enforceable. This outcome highlights the judiciary’s stance on the distinction between public and private duties in corporate litigation.
While the case remains a focal point of regulatory scrutiny, the Supreme Court’s ruling indicates that the legal framework will continue to treat NSE as a private company in the context of this particular dispute.
