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FIRST ll{FORtAIIOil REPORT (Und.t Sec. 15a Cr.P.C.) s.P.E.c..ll
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Distict PS: Year FIR No. Dat6

NewDelhi CBUAC.I 2018 RCACI 2018A0011 28.05.2018


2. (1) ffi, lpg tnq{: 12OB&204
Act Sections

('z) pc lct, 1988 7,12,&i3(2) r/w {3(i) (d)


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(3) frqR' t r Act,2ooo
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. OtherAcb & Sec'tions

3. (6') y#c qcqs : Crimlnal conspiracy, attempt to give and


(a) Suspected offence recelve bribe, misuse of official position and
destroying evidences.
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(b) Day Date Time
Durlng 2010 to2O14
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(c) Information received at PS Date

CBl, AC-|, New Delhi 28.05.2018


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Entry No. Date Time
11 28.05.2018 06:30 pM
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Type of Infornntion Wrttten/Oral
Oral
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Place of Occunence
Delhi and other parts of India
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(a) Directioo & Dishnce from pS

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N.A.
(bl Address

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(c) In case, outside the lirdl of this Police Stalion, then

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Name of PS District
N.A. N.A.

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complainant / Infonnant Source Information

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(a) Na.ne

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(b) Fahefs / Husband's Nane

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(c) Date of Birth (d) Nationality

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(e) Passportllo Oate of lssue Place of lssue

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(f) Profe$ion

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(g) Address

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Details of kncn / susp€cted / unknown acqJs€d with full parti@lars
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(Attac-hed separate sheet, if necessary)

(1) As per Annexure-"A" attached herewith,


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(3)

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Annexure - 'A'

Details of known/suspected/unknown accused with full particulars:-

(1) Shri Sanjay Gupta, R/o G-190, Preet Vihar, New Delhi - 1 10092'
(2) Shri Aman Kokrady, R/o 25 Waterwoods, Whitefields, Bangalore - 66.
(3) Shri Ajay Narottam Shah, R/o Faculty Flat No. 3, National Institute of Public
Finance and Policy, 18/2, Satsang Vihar Marg' New Delhi'
(4) M/s OPG Securities Pvt. Ltd., OPG House, 4/10' Asaf Ali Road' Delhi'
(5) Unknown officers/officials of Securities and Exchange Board of India (sEBr) &
National Stock Exchange (NSE), Mumbai.
(6) Other unknown persons.

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Reasons foidelay in reporting by the cotnplainant

No Delay.
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sheet' if necessary)
Particulars of properties Stolen (Attach separate

N. A.

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Total value of ProPerty stolen

N. A.

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Inquest Report / U.D. case No. if any

N. A.
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first lniormation contents (Attach separate sheet' if required)
Information is attached herewith as Annexure_,.B"

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An nexure'B'

lnformation

source Information received that during 2010 to 2014, shri sanjay Gupta owner
and oromoter of M/s OPG Securities Pvt Ltd. abused the server architecture of National
stock Exchange (NSE) in criminal conspiracy with unknown officials of NSE. In
furtherance of the said criminal conspiracy sanjay Gupta with the help of his brother-in-
law shri Aman Kokrady and other unknown persons, managed the data centre staff of
NSE who passed the information regarding switching on time of NSE exchange servers.
Further unknown officials of NSE gave OPG Securities Pvt Ltd access to servers which
were technologically latest and least crowded at that particular period. This helped OPG
Securities Pvt Ltd. in being mostly the first one to login on the Exchange Server of the
NSE.

2. Co-location is a setup wherein the broker's computer is located in the same area
in which server of the Stock Exchange is located. This particular setup of server gives a
10 : 1 (approx.) speed advantage in comparison to other brokers. Further, that till 2014
information was disseminated by exchange server to the brokers attached with co-
location facility through 'tick by tick" (TBT) based system architecture. In this
architecture data was disseminated in a sequential manner whereby the stock broker
who connected first to the server of Stock Exchange received ticks i.e. market feed,
before the stock broker who connected later.

3. Source further informed that sanjay Gupta had unfair access to co-location
facility of NSE between 2010 to 2014 that enabled his company OPG Security Pvt. Ltd.
to login first to the secondary server and get the data before everyone else which
allowed a splilsecond faster access to the data feed of NSE. Even a split-second
faster access is considered to result in huge gains for any stock trader.

4. Source revealed that initially NSE did not have the system of starting its TBT
servers (tick by tick server) at a fixed time everyday. source revealed that sanjay
Gupta with the help from unknown persons, managed the data centre staffs of National
Stock Exchange (NSE) who passed the information regarding switching on time of NSE
exchange seNers.

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5. Source further informed that during october 2012, NSE improved the system of
imbalance load factor among difierent TBT Colocation servers and introduced load
the
balancer among the various TBT Co-location servers. Load balancer ensured that
load is evenly distributed among the TBT servers. ln addition there were backup servers
available in NSE for providing connection to the servers of the brokers only in case
primary servers had some technical glitch or failure. While servers of all other brokers
were connected to the primary seryers of NSE, Sanjay Gupta once again dishonestly
and fraudulently managed the data centre staff of NSE who started to let oPG
Security

Pvt. Ltd. connected to the backup servers especially. Backup servers were with zero
load and therefore had provided far better and fast access to the market feed to the
oPG Security Pvt. Ltd. of sanjay Gupta in comparison to other brokers. Thus, the
favour shown by unknown officials of NSE to oPG Securities Pvt. Ltd. by
providing

market feed first in comparison to other brokers resulted in wrongful gain to oPG
Securities Pvt. Ltd. and wrongful loss to other brokers/investors'

6. source information further revealed that on receiving the complaints of


exoloitation of TBT architecture by oPG securities Pvt Ltd., sEBl conducted enquiry

and according to its Technical Advisory committee (TAC) report, oPG Securities
gained materially by exploiting the TBT architecture of NSE. TAC report also revealed
most of
that oPG Securities had consistently logged in first on selected TBT servers on
the trading days during the period 20'10 to 2014 and also had access to servers that
had
NSE's Co-
better hardware. Deloitte Touche Thmatsu, which did a forensic review of the
location facility, found that OPG Securities was the first in most cases during trading
sessions.

7 . Source information also revealed that in order to ensure the favourable report
oPG
from sEBl in the on-going enquiry being carried out by SEBI against the role of
Securities Pvt Ltd in the misuse of TBT architecture of NSE' Sanjay Gupta dishonestly
and fraudulently influenced the official of sEBl for which bribe money was exchanged
between sanjay Gupta and some unknown officials of sEBl. source information
has

further revealed that bribe amount was paid to unknown officials of NSE and SEBI
by
public servants
accused persons which shows criminal misconduct on part of unknown
for showing undue favour to OPG Securities Pvt' Ltd.

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8. Further source information revealed that Shri Sanjay Gupta knowingly and
deliberately directed his employees to delete some important mails, text messages'
logs, etc. related to co-location controversy with the intention of destroying electronic
evidence against him and his company.

9. Source further revealed that one Ajay Narottam shah had been instrumental
in
trade
exploitation of NSE TBT architecture. source revealed that he had collected NSE
data in the name of carrying out research and subsequently, passed it to
private

persons who in turn developed an algo software named 'chanakya'' chanakya


who in turn
software, thereafter, were sold to selected brokers including OPG Securities
had been alleged to be benefitted by exploiting the TBT architecture of NSE by the
help

from Chanakya Software.

10. source also revealed that oPG Securities has been illegally trading in Dubai'
Ghana, Singapore, Hongkong and China and Sanjay Gupta controls many entities
in

Dubai.SanjayGuptaandAmanKokrady(brother-in.|awofSanjayGupta)haveraised
funds from abroad.

11. Therefore, above source information reveals offences punishable under section
1208 & 204 of IPC and sec. 66 of lT Act 2000 along with section 7, 12 & 13(2)
rlw

13(1)(d) of PC Act 1988 against Sanjay Gupta, Aman Kokrady, Ajay Narottam Shah'
M/s OPG Securities Pvt. Ltd., unknown officials of sEBl & NSE and other unknown
persons for entering into criminal conspiracy for attempt to give and receive bribe,
gain, for
abuse of official position, unfair access of TBT servers of NSE for wrongful
manipulating the sever of NSE and for destroying the electronic evidences.

12. Therefore, a regular case vide RC No. RC ACI 2018 40011 dated 28.05'2018 is
for
registered and entrusted to Sh. Avnish Kumar, Inspector, cBl/AC-1/New Delhi
investigation and report.
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(RAJTV RANJAN,IPS)
Supdt. of Police
CBl, ACl, New Delhi

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sT[;,",";;;;i "iunll-(l
Anti CorruPtion )

CBI : SPE Ner'"'r''


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A'tion bken : since th€ above information revears commFsion of offence(s)
u/s as rnentioned at
It€m No. 2

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Regbt€r€d thc case and took up the investigalion or

Regular Gase Registered


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Transfon€d b pS
Disuict o.r point of jurisdiction
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Date and time of de3pabh to the court Superintendent of police
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Signalure of recording Oficer with date
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Attachment to item 7 of First Information Report

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Physical features, deformities and other details
of the susp€cuaccused : (lf known / seen)
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