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Delhi court sends former NSE CEO Chitra Ramkrishna to 14 days custody

By Priyanka Verma 
Updated Date

New Delhi: A Delhi Court on Monday sent former MD and CEO of National Stock Exchange (NSE), Chitra Ramkrishna to 14 days of judicial custody, in the NSE co-location case.

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Earlier, the court had sent sent Chitra Ramkrishna to 7-day CBI custody, saying her custodial interrogation was required for fair and proper investigations.

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The CBI arrested the accused on 6 March after her anticipatory bail application was dismissed by the court a day earlier. The CBI alleged that the electronic devices recovered are being analyzed and would be used for conducting further examination of Ramakrishna.

The CBI was represented by its Additional Legal Advisor V K Sharma and Senior Public Prosecutor V K Pathak, while senior advcoate Trideep Pais appeared for the accused.

Ramkrishna was appointed as MD and CEO of NSE on April 1, 2013. Investigation has revealed that during the period 2013-16 after accused Chitra Ramakrishna took over as MD & CEO of NSE, OPG Securities Pvt Ltd was allowed to connect to secondary server of the COLO-TBT Dissemination server for over 300 trading days causing it undue gain, it said.

It is further submitted that OPG Securities Pvt Ltd was warned repeatedly in 2012 that accessing the secondary server is a violation of the rules/guidelines of the NSE, it said.

NSE however stopped issuing such warnings to OPG Securities without any justifiable reasons during 2013 when Ramkrishna was MD & CEO of NSE.

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Investigation has also revealed that Muralidharan Natarajan, the CTO of NSETECH (a subsidiary of NSE), was responsible for putting in place the co-location architecture at NSE. He was reporting to Ramakrishna, the CBI told the court.

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