September 16, 2023

National Stock Exchange- Book by Sucheta Dalal titled Absolute Power


Absolute Power
  • How NSE, set up by government-owned institutions, trounced the 100-year old BSE within two years to emerge as a transparent and efficient exchange platform.
  • How NSE was involved in the Scam of 2001 but emerged unscathed
  • How NSE launched its co-location services illegally in 2010
  • How SEBI allowed NSE to get away with repeated transgressions
  • How SEBI stopped BSE from acquiring CAMS because of conflict of interest while allowing NSE to do just that. It then did an about turn in 2020
  • How NSE acquired a stake in Omnesys, the subsidiary of a brokerage firm, despite blatant conflict of interest with its role as a first-line regulator
  • How Chitra Ramkrishna’s appointment as NSE’s managing director in 2013 was manipulated and how she ran the Exchange like a private fief
  • How NSE was repeatedly let off with a warning for serious violations such as fat-finger crash and client code modification
  • How SEBI buried the algo scam by first asking the NSE to fix responsibility, which the NSE failed to do and then deliberately issuing weak show-cause notices.
  • How the scandalous appointment and exit of Subramanian Anand was an egregious example of what was happening at the Exchange.


For Buying the book, please click the link

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