NSE Co-Location Scam Case: Delhi Court Remands Former CEO Chitra Ramkrishna To 14 Days Judicial Custody

A Delhi Court on Monday remanded former NSE CEO Chitra Ramkrishna to 14 days judicial custody in connection with the NSE co-location scam case.

Chitra Ramakrishna was produced before Special CBI Judge Sanjeev Aggarwal of the Rouse Avenue Court at the expiry of her police custody in the matter. She will remain in judicial custody till March 28.

Seeking Ramakrishna's judicial custody, the Central Bureau of Investigation (CBI) argued that she was not cooperating with the agency and was in fact giving evasive replies to the probe agency.

While the counsel appearing for Chitra requested the Court that she be provided with home cooked food, a prayer book and face masks, the Judge orally remarked thus:

"There will be no special facility given to anyone. VIP prisoners want everything and the rules to be changed. Every accused, every prisoner is the same. She is not a VIP."

However, the Court allowed Chitra to carry her spectacles, prayer book and medicines.

The Court has already reserved order in the bail plea of former Group Operating Officer of the National Stock Exchange (NSE) Anand Subramanian in the matter, order of which is likely to be pronounced on March 24.

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.