NSE Fraud case: Anand Subramanian sent to 14 days judicial custody

The CBI official produced him before the court of Sanjeev Aggarwal on Wednesday

Staff ReporterUpdated: Wednesday, March 09, 2022, 10:27 PM IST
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A Central Bureau of Investigation (CBI) court in Delhi on Wednesday sent Anand Subramanian, former Group Operating Officer of National Stock Exchange (NSE) to 14 days judicial custody, in the NSE Co-location case. Subramanian is likely to be lodged at Tihar Jail.

On February 25 the CBI had arrested Subramanian and his CBI custody was extended by the court till March 09.

The agency on Sunday had arrested former MD & CEO of NSE Chitra Ramkrishna in the co-location case, after her anticipatory bail application was rejected by the court.

Last month, the CBI had questioned former CEO of the NSE Ravi Narain, Subramanian and Ramkrishna and had issued lookout circulars (LoCs) against them.

The officials had also visited the Securities and Exchange Board of India (SEBI) office in Mumbai and had collected certain case related documents.

On May 28, 2018, the CBI had registered a case criminal conspiracy, attempt to give and receive bribe, misuse of official position and destroying evidences against the owner and promoter of a New Delhi-based private company, unknown officials of the SEBI and the NSE, Mumbai and other unknown persons.

According to the CBI, it was alleged that the owner and promoter of the said private company abused the server architecture of the NSE in conspiracy with unknown officials of the NSE. It was also alleged that unknown officials of the NSE, Mumbai, had provided unfair access to the said company using the co-location facility during the period 2010-2014 that enabled it to log in first to the exchange server of the stock exchange, helping it get the data before any other broker in the market.

Last month, SEBI had slapped fine on Ramkrishna after finding that she was allegedly taking guidance from a yogi in various matters related to the exchange.

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