New Delhi: Delhi's Rouse Avenue Court has sent former NSE chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna to seven-day CBI remand in connection with sharing confidential information the NSE co-location case. On Monday, Chitra Ramakrishna was presented in the court and demanded 14 days remand.
CBI while seeking remand further stated that she is also required to be confronted with digital evidence available on record. Ramakrishna continues to be vague and had only eluded from answering the Investigation officer by denying that she had shared any confidential data with anyone. The Special CBI Judge Sanjeev Aggarwal after hearing the submissions decided to sent Chitra Ramkrishna for CBI remand till March 14. CBI in its remand application sought a 14-day remand and stated that Chitra Ramakrishna continues to provide evasive answers and misguide the Investigation Officer.
CBI said that Chitra Ramakrishna is to be interrogated in front of NSE and SEBI officials. The CBI told the court that it had interrogated Chitra Ramakrishna by sitting opposite Anand Subramaniam, but Chitra refused to recognize Subramaniam. While the CBI has found about two and a half thousand e-mails exchanged between the two. Chitra Ramakrishna was arrested by the CBI on 6 March.
Earlier on March 5, the Rouse Avenue Court had rejected Chitra's anticipatory bail plea. Dismissing the anticipatory bail plea, Special Judge Sanjeev Aggarwal had said that the cases related to economic offenses have to be treated differently as there are deep conspiracies to damage public money. The court had asked how this information could be shared without the connivance of the NSE chief.
Also Read: CBI court refuses to grant anticipatory bail to NSE ex Chief Chitra Ramkrishna
Senior Advocate Trideep Pais, appearing for Chitra Ramakrishna, had opposed the demand application and said, it was her because of whom the co-location scam was stopped. She has an 85-year-old mother, she has a young daughter. Her liberty would be curtailed. CBI didn't arrest the main accused. Ajay Shah was in the CBI office on Monday. The one who made the Chanakya software argued Chitra's lawyer.
On Tuesthe same CBI court has extended the remand of Anand Subramanian, former Group Operating Officer and advisor to former MD of National Stock Exchange Chitra Ramkrishna, arrested by CBI from Chennai in connection with the NSE case. CBI investigation stated that group operating Officer Anand Subramanian's appointment was influenced by NSE chairman and MD Chitra Ramakrishnan.
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers. Ravi Narain was the MD and CEO of the National Stock Exchange from April 1994 till March 2013, while Chitra Ramkrishna was the MD and CEO of the NSE from April 2013 to December 2016. The market regulators 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.
with Agency inputs
