Delhi High Court grants bail to Chitra Ramkrishna in money laundering case

The former NSE managing director was arrested in the present case by the ED July 14 last year.

Updated - February 09, 2023 12:38 pm IST

Published - February 09, 2023 12:01 pm IST

Chitra Ramkrishna. File photo

Chitra Ramkrishna. File photo | Photo Credit: The Hindu

The Delhi High Court on Thursday, February 9, 2023, granted bail to Chitra Ramkrishna in a money laundering case, being probe by the Enforcement Directorate (ED) involving alleged illegal phone tapping of the National Stock Exchange (NSE) employees.

The former NSE managing director, who was arrested on March 6, 2022 by the CBI in the alleged NSE co-location scam, was granted bail by the High Court in September last year. She was arrested in the present case by the ED July 14 last year.

Read: Chitra Ramkrishna | The dramatic fall of an institution builder

Ms. Ramkrishna, who worked with the exchange from the early 1990s, was its Managing Director and Chief Executive Officer from April 2013 to December 2016.

As per ED, the phone tapping case relates to a period from 2009 to 2017 when former NSE CEO Ravi Narain, Ramkrishna, Executive Vice-President Ravi Varanasi, and Head (Premises) Mahesh Haldipur and others conspired to cheat NSE and its employees and for the purpose, engaged iSEC Services Pvt Ltd for illegal interception of phone calls of employees of the NSE in the guise of doing periodic study of cyber vulnerabilities of the NSE.

The ED had earlier objected to her bail plea contending that she was the “mastermind” behind the conspiracy.

Ms. Ramkrishna, on the other hand, has argued that no scheduled offence was made out against her.

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