The National Stock Exchange (NSE) states that the reply by journalists Debashis Basu and Sucheta Dalal do not provide conclusive proof of wrongdoing in the exchange, reports the Business Standard. This was NSE’s reply to the affidavit by journalists working for Moneylife in its defamation suit in the Bombay High Court.

Previously, the NSE had filed a Rs 100 crore defamation case against Moneylife magazine in July, a month after Moneylife published an article on algorithmic trading based on a whistleblower’s report. The report detailed how certain companies, which were registered for high-frequency trading (HFT) were profiting illegally with the help of the exchange’s insiders.