NEW DELHI: A Delhi court on Saturday refused to grant anticipatory bail to former managing director and chief executive officer of National Stock Exchange Chitra Ramkrishna in connection with the NSE co-location case.
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchange to stockbrokers.
The CBI had recently questioned Ramkrishna in the matter. Earlier, the Income Tax Department had raided various premises linked to Chitra Ramkrishna in Mumbai and Chennai.
Recently, the CBI court had remanded her aide, Anand Subramanian, former Group Operating Officer, in CBI custody.
He was arrested by the CBI from Chennai in connection with the NSE case.
The arrest was made following fresh revelations about irregularities at the country's largest stock exchange by Subramanian, who was posing as a Sadhu from the Himalayas and giving directions to Ramkrishna on the NSE affairs.
Earlier, the SEBI had penalised the NSE, its former CEOs 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 MD and CEO of the NSE from April 2013 to December 2016.
SEBI, the market regulator, has observed that the NSE and its top executives violated securities contract norms relating to the appointment of Anand Subramaniam as group operating officer and advisor to the managing director.
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