NSE Scam: A lot of games were being played on the exchange, know how many layers are there in the whole scam

NSE Scam: Chitra Ramakrishna did not get relief, court sought response from CBI on bail application

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new Delhi. A Delhi court has asked the CBI to present its side within two weeks on the bail application of Chitra Ramakrishna, former managing director and CEO of the National Stock Exchange (NSE). Special Judge Sanjeev Agarwal, while issuing a notice to the CBI on the bail application made by Chitra, who was arrested in the NSE Co-location case, said that he should present his side on it till April 8.

In this application filed on Friday, it has been claimed that now Chitra is no longer needed for interrogation of the case, hence no purpose will be served by keeping her in custody.

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CBI court has rejected Anand Subramanian’s bail plea

The CBI has arrested Chitra in the co-location case after Chitra’s anticipatory bail plea was rejected. Earlier, Chitra was closely interrogated by the CBI. The Income Tax Department also raided their premises. In this case, the bail application of Anand Subramanian, who was the group operating officer of NSE during Chitra’s tenure, was rejected on Thursday.

The misuse of co-location arrangement, which allows brokerage firms to have servers within the NSE premises, is being probed. An FIR was registered in this case in May 2018.

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Chitra became NSE chief in 2013

It is worth mentioning that Chitra is a Chartered Accountant (CA) by profession. He started his career with IDBI Bank in the year 1985. He also worked in SEBI for some time. She was in the lead role since the inception of NSE in the year 1991. Chitra was among the 5 people led by NSE’s first CEO RH Patil who were selected to create a transparent stock exchange after the ‘Harshad Mehta scam’. After the end of Ravi Narayan’s tenure in 2013, Chitra was made the chief of NSE for 5 years.

Tags: CBI, NSE, SEBI

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