homeindia NewsNSE co location case: Delhi HC grants statutory bail to Chitra Ramkrishna, Anand Subramanian

NSE co-location case: Delhi HC grants statutory bail to Chitra Ramkrishna, Anand Subramanian

NSE co-location case: Delhi HC grants statutory bail to Chitra Ramkrishna, Anand Subramanian
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By CNBCTV18.com Sept 28, 2022 4:40:31 PM IST (Updated)

The Delhi High Court on Wednesday granted statutory bail to former NSE CEO Chitra Ramkrishna in the NSE co-location scam case. The court also granted statutory bail to former NSE Group Operating Officer Anand Subramanian. The court also sought the stand of the Enforcement Directorate (ED) on the bail plea by Chitra Ramkrishna in connection with a money laundering case related to alleged illegal phone tapping and snooping of national stock exchange (NSE) employees.

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An FIR was registered in the case in May 2018, amid fresh revelations about irregularities at the NSE. The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to stock brokers.
Subramanian was arrested by the CBI on February 24. The CBI had arrested Ramkrishna on March 6, a day after her anticipatory bail application was dismissed by a trial court.
In a status report filed in the bail plea by Subramanian, the CBI said the investigation has established that co-accused Ramkrishna abused her official position at NSE to illegally appoint him as the Chief Strategic Advisor and also arbitrarily and disproportionately hiked his compensation and re-designated him as group operating officer without requisite approvals. Ramkrishna was the MD and CEO of the NSE from April 2013 to December 2016.
The agency further claimed that Ramkrishna was communicating with an external email-id being operated by Subramanian and examination of witnesses was being carried out to unearth the whole conspiracy in the case.
With inputs from PTI
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