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

Justice Sudhir Kumar Jain said he was granting “statutory bail” to the two former officials, Chitra Ramkrishna and Anand Subramanian, of the NSE

September 28, 2022 01:26 pm | Updated 01:26 pm IST - New Delhi

Former CEO of the National Stock Exchange, Chitra Ramkrishna. File

Former CEO of the National Stock Exchange, Chitra Ramkrishna. File | Photo Credit: PTI

The Delhi High Court on September 28 granted bail to former National Stock Exchange (NSE) head Chitra Ramkrishna and ex-group operating officer Anand Subramanian in the co-location scam case being probed by the CBI.

Justice Sudhir Kumar Jain said he was granting “statutory bail” to the two former officials of the NSE.

A detailed copy of the order is awaited.

An FIR was registered in the case in May 2018, amid fresh revelations about irregularities at the country’s largest stock exchange. The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to stock brokers.

Mr. Subramanian was arrested by the CBI on February 24.

The CBI had arrested Ms. 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 Mr. Subramanian, the CBI said the investigation has established that co-accused Ms. 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.

Ms. Ramkrishna was the MD and CEO of the NSE from April 2013 to December 2016.

The agency further claimed that Ms. Ramkrishna was communicating with an external email-id being operated by Mr. Subramanian and examination of witnesses was being carried out to unearth the whole conspiracy in the case.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.