The Delhi high court on Wednesday granted bail to former National Stock Exchange (NSE) head Chitra Ramkrishna and ex group operating officer Anand Subramanian in the co-location scam case being probed by the CBI.<\/p>\n
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Justice Sudhir Kumar Jain said he was granting “statutory bail” to the two former officials of the NSE.<\/p>\n
A detailed copy of the order is awaited.<\/p>\n
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An FIR was registered in the case in May 2018, amid fresh revelations about irregularities at the country’s largest stock exchange.<\/p>\n
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to stock brokers.<\/p>\n
Subramanian was arrested by the CBI on February 24.<\/p>\n
The CBI had arrested Ramkrishna on March 6, a day after her anticipatory bail application was dismissed by a trial court.<\/p>\n
In a status report filed in the bail plea by Subramanian, the CBI said the investigation has established that co-accused Ramkrishna abused her official position at NSE to illegally appoint him as the Chief Strategic Advisor and also arbitrarily and disproportionately hiked his compensation and re-designated him as group operating officer without requisite approvals.<\/p>\n
Ramkrishna was the MD and CEO of the NSE from April 2013 to December 2016.<\/p>\n
The agency further claimed that Ramkrishna was communicating with an external email-id being operated by Subramanian and examination of witnesses was being carried out to unearth the whole conspiracy in the case.<\/p>\n<\/div>\n[ad_2]\n<\/p>\n
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