Chitra Ramkrishna, Anand Subramanian get bail in NSE co-location case

Delhi High Court on Wednesday 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

Press Trust of India September 28, 2022 12:51:30 IST
Chitra Ramkrishna, Anand Subramanian get bail in NSE co-location case

Delhi High Court granted bail to NSE- fraud accused Chitra Ramkrishna and Anand Subramanian. ANI File Photo.

New Delhi: The Delhi High Court on Wednesday 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.

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.

Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

Updated Date:

also read

Sensex settles above 63,000 for first time, Nifty ends above 18,750
Business

Sensex settles above 63,000 for first time, Nifty ends above 18,750

During the day, the Sensex jumped 621.17 points or 0.99 per cent to 63,303.01, its lifetime intra-day peak

Sensex tumbles 519 points to close at 61,145, Nifty ends day's trade at 18,160
Business

Sensex tumbles 519 points to close at 61,145, Nifty ends day's trade at 18,160

From the Sensex pack, Reliance Industries, HDFC, Tata Consultancy Services, Tech Mahindra, Infosys, Bajaj Finance, Wipro and Tata Steel were the major laggards

Archean Chemical lists at 11% over issue price; here's what it means for investors
Business

Archean Chemical lists at 11% over issue price; here's what it means for investors

The share price of Archean Chemical may increase to between Rs 550 and 570 in the near term, and it may rise to Rs 640 in the long run