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Special CBI court dismisses anticipatory bail plea of ex-NSE boss Chitra Ramkrishna

By Priyanka Verma 
Updated Date

New Delhi: A Special CBI court in Delhi on Saturday, March 5, dismissed the anticipatory bail plea of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna in connection with the NSE co-location case.

Also Read :- NSE co-location case: Chitra Ramkrishna's judicial custody extended till 11 April

The CBI has already arrested Anand Subramanian, NSE’s former group operating officer, who had served as Ramkrishna’s advisor, from Chennai in the co-location case. Chitra and Anand hit the headlines after SEBI, in an order on February 11 charged Chitra with alleged governance lapses in the appointment of Subramanian as the chief strategic advisor and his re-designation as group operating officer and advisor to MD. SEBI levied a fine of ₹3 crore on Ramkrishna, ₹2 crore each on NSE, Subramanian, former NSE MD and CEO Ravi Narain, and ₹6 lakh on V R Narasimhan, who was the chief regulatory officer and compliance officer.

The CBI, which was probing the co-location scam since 2018, swung into action after the SEBI report that showed alleged abuse of power by the then top brass of the NSE.

Ramkrishna said she was steered by a Himalayan yogi in the appointment of Anand Subramanian. While CBI claimed Anand Subramanian himself was the Himalayan yogi, SEBI contradicted the claim.

Ramkrishna was MD and CEO of NSE from April 2013 to December 2016, Narain was the MD and CEO of the exchange from April 1994 till March 2013. Thereafter, he was appointed as vice-chairman in the non-executive category on the NSE’s board from April 2013 and remained so till June 2017.

The Securities and Exchange Board of India charged Ramkrishna and others with alleged governance lapses in the appointment of Subramanian as the chief strategic advisor and his re-designation as group operating officer and advisor to MD.

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