NSE Co Location Scam: Delhi Court Extends Judicial Custody Of Former CEO Chitra Ramkrishna

A Delhi Court on Monday extended the judicial custody of former NSE CEO Chitra Ramkrishna in connection with the NSE co-location scam case.

Special Judge Sanjeev Aggarwal extended the Ramkrishna's judicial custody to April 11. The Judge also asked the Central Bureau of Investigation (CBI) to respond to her bail plea by April 8.

Earlier, seeking Ramakrishna's judicial custody, the CBI had argued that she was not cooperating with the agency and was in fact giving evasive replies to the probe agency.

The Court has also dismissed the bail plea of former Group Operating Officer of the National Stock Exchange (NSE) Anand Subramanian in the matter.

The FIR was registered in the year 2018 under sec. 204 (destruction of document or electronic evidence) and 120B (conspiracy) of IPC and relevant offences under the Information Technology Act and Prevention of Corruption Act.

CBI is probing an alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers.

According to CBI, it was alleged that the probe revealed that former NSE CEO Chitra Ramkrishna allegedly hired Anand Subramanian as consultant in NSE without following the due procedure and also by coercing the HR Department.

Anand Subramaniam is presently in judicial custody.

Anand Subramanian was sent to CBI custody till March 6 which was extended further till March 9. He was then sent to judicial custody on Wednesday.

Anand Subramaniam, Chitra Ramakrishna and Ravi Narain were show caused by the Security and Exchange Board of India (SEBI) for various corporate governance lapses.

CBI had thereafter arrested Chitra Ramakrishna and a Special Court had sent her to CBI custody.

SEBI had levied penalties on Chitra Ramakrishna and others for violating rules while appointing Anand Subramaniam as Chief Strategic Advisor.

It was alleged by the probing agency that Chitra in conspiracy with Anand Subramanian influenced the NSE officials to facilitate him in having access to important decision making processes.