Co-location case: Delhi court sends Chitra Ramkrishna to 14-day judicial custody

The CBI produced Chitra before the court as her seven-day custody expired on Monday.

New Delhi, First Published Mar 14, 2022, 5:17 PM IST | Last Updated Mar 14, 2022, 5:17 PM IST

A Delhi court sent former National Stock Exchange Chief Chitra Ramkrishna to 14 days of judicial custody in the NSE co-location scam case on Monday. The CBI told the court that Ramkrishna had not cooperated and evaded replies in the investigation.

The Defence council sought home-cooked food for Ramkrishna while in judicial custody; the judge replied that food in the judicial custody is also good. The defence also requested permission for a prayer book and a mask, the judge refused, stating Ramkrishna is not a VIP.

The CBI produced Chitra before the court as her seven-day custody expired on Monday. The probe agency arrested Ramkrishna on March 6, after the court dismissed her anticipatory bail application.

The case for which Ramkrishna was arrested--- Himalayan Yogi and the co-location one are two different. However, it involves the same characters.

Co-location case:

The FIR was registered in May 2018, stating some brokes were provided with advance access to the markets. The brokers could place their servers within the stock exchange premises, providing them faster access to the markets. It is alleged that some brokers in the connivance along with insiders abused the algorithm and the co-location facilities to make windfall profits.

Himalayan Yogi case:

The capital markets regulator, SEBI, has sanctioned the NSE, Chitra Ramkrishna, and other former officials for recruitment flaws. The SEBI noticed that NSE and its top executives violated securities contract norms in the appointment of Anand Subramanian as group operating officer and advisor to the managing director. Chitra Ramkrishna stated that a Himalayan Yogi influenced her decision to appoint Subramanian.

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