NSE co-location case: Chitra Ramkrishna sent to 14-day judicial custody, home-cooked food not allowed
Mar 14, 2022
New Delhi [India], March 14 : Delhi's Rouse Avenue Court on Monday remanded Chitra Ramkrishna to 14-day judicial custody in the National Stock Exchange (NSE) co-location case.
Special Judge Sanjeev Aggarwal sent Chitra Ramkrishna to judicial custody till March 28.
The Central Bureau of Investigation (CBI) had sought judicial custody of the accused saying that she is a "very influential person".
She was presented before the court on the expiry of her 7-day judicial custody in connection with the case.
Meanwhile, Ramkrishna's defence counsel said that he is filing a bail application.
Her defence counsel urged that the court allow home-cooked food for Ramkrishna during her judicial custody, which the judge declined and said that he himself has had the food given in judicial custody many times. "It's quite good," he said.
Earlier, the CBI had submitted that they are seriously looking at all aspects of the investigation and there is a special team of 30 officials consisting of a senior official to probe the case.
"We are also probing the role of Securities and Exchange Board of India (SEBI) officials in the matter. We have also recently questioned Ravi Narain, former MD of NSE," they said.
The CBI had earlier apprised the court that Ramkrishna did not recognize Anand Subramanian in the first meeting.
The CBI had also said that Ramkrishna continues to provide evasive answers and misguide the investigation officer.
According to the CBI investigation, group operating officer Anand Subramanian's appointment was influenced by NSE chairman and MD Chitra Ramakrishnan.
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers.
Earlier, the Securities and Exchange Board of India (SEBI) has penalized the National Stock Exchange (NSE) and its former CEOs Chitra Ramakrishna and Ravi Narayan and two other officials for lapses in recruitment at the senior level.
Ravi Narain was the MD and CEO of the National Stock Exchange from April 1994 till March 2013, while Chitra Ramkrishna was the MD and CEO of the NSE from April 2013 to December 2016.
The market regulators observed that the NSE and its top executives violated securities contract norms relating to the appointment of Anand Subramaniam as group operating officer and adviser to the managing director.
