The Delhi High Court on Wednesday granted statutory bail to National Stock Exchange (NSE) chief Chitra Ramkrishna and former group operating officer, Anand Subramanian in the co-location scam case that was being probed by the CBI.
An FIR was registered in the NSE scam case in May 2018 amid fresh revelations about irregularities at the country's largest stock exchange. The CBI is currently probing the alleged improper dissemination of information from the computer servers of the market exchanges to stock brokers.
The CBI had arrested Subramanian on February 24, while Ramkrishna was arrested on March 6, a day after her anticipatory bail was dismissed by a trial court.
The investigating agency, in its status report filed in the bail plea by Subramanian, stated that during the investigation it was found that co-accused Ramkrishna had abused her official position at NSE to illegally appoint him as the Chief Strategic Advisor and arbitrarily and disproportionately hiked his compensation, re-designated him as group operating officer without requisite approvals.
Ramkrishna served as the MD and CEO of the NSE from April 2013 to December 2016.
