NSE files Rs 100-crore suit against India Samvad

MUMBAI: The National Stock Exchange ( NSE) has filed a Rs 100-crore criminal defamation suit against yet another online news portal India Samvad for publishing articles on algorithmic and high frequency trading (HFT).

"First, the NSE had claimed Rs 10 crore in damages but later they sent us a petition that they had filed in the Bombay High Court and it said that the exchange had sued us for Rs 100 crore for defamation," said Prabhat Chaturvedi, executive editor, India Samvad. "Currently , some of the articles on the website are not seen only as the website was being re-constructed. Otherwise, no court has asked us to remove the article."

NSE confirmed it has sued India Samvad. In response to an ET query, an NSE spokesperson said, "They have not so far replied to the legal notice sent earlier and to the best of our knowledge they have not appeared before the court so far."

NSE has also filed Rs 100-crore defamation against another online portal Moneylife, a personal finance focused website for publishing article on the issue.