The former managing director and the CEO of the National Stock Exchange (NSE) Chita Ramkrishna applied for the anticipatory bail. But a special CBI court in Delhi has dismissed application of Chita Ramkrishna in connection with the NSE co-location case.
The CBI has already arrested NSE’s former group operating officer Anand Subramanian from Chennai in the co-location case. He had served as Citra Ramkrishna’s advisor.
Citra Ramkrishna said she was steered by a Himalayan yogi in the appointment of Anand Subramanian. CBI claimed Anand Subramanian as the Himalayan yogi. But SEBI contradicted the claim.
On 11th February, SEBI 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. They hit the headline after that.
SEBI also levied a 3 crore fine on Ramkrishna, 2 crore each on NSE, Subramanian, the former NSE MD and CEO Ravi Narain, and 6 lakh on the chief regulatory officer and compliance officer V R Narasimhan.
Since 2018 the CBI was probing the co-location scam. They swung into action after the SEBI report that showed alleged abuse of power by the then top brass of the NSE.
During 2010-2012 the top brass of the NSE reportedly gave early access to some brokers to the stock market trading system. The central probe agency had booked owner and promoter of Delhi-based OPG Securities Pvt Ltd stock broker Sanjay Gupta in 2018 for allegedly making gains by getting early access to the stock market trading system. It has been said as NSE co-location case.
