NSE ex-CEO Chitra Ramkrishna sent to 7-day CBI custody
Categories: DAILY NEWS
A court in Delhi on Monday (March 7) sent former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna, to 7-day CBI custody. Ramkrishna has been arrested in India's National Stock Exchange co-location case.After hearing arguments from Central Bureau of Investigation (CBI), special judge Sanjeev Aggarwal passed the order.The CBI alleged that her custodial interrogation was needed to unearth the criminal conspiracy and the role of other NSE officials and brokers in the company. "She is also required to be confronted with co-accused Anand Subramanian, who is already in police custody of CBI, to understand the magnitude and scope of the criminal conspiracy. She is also required to be confronted with digital evidence available on record," the agency told the court.The CBI further submitted that the material already collected in the present case show that Ramkrishna in conspiracy with Subramanian had improperly hired him by coercing the HR department of NSE. The CBI said that during Ramkrishna's tenure as Joint MD, NSE, the co-location was conceptualized and implemented.Ramkrishna was appointed as MD and CEO of NSE on April 1, 2013."Investigation has revealed that during the period 2013-16 after accused Chitra Ramakrishna took over as MD & CEO of NSE, OPG Securities Pvt Ltd was allowed to connect to secondary server of the COLO-TBT Dissemination server for over 300 trading days causing it undue gain," it said. "NSE however stopped issuing such warnings to OPG Securities without any justifiable reasons during 2013 when Ramkrishna was MD & CEO of NSE. Investigation has also revealed that Muralidharan Natarajan, the CTO of NSETECH (a subsiiary of NSE), was responsible for putting in place the co-location architecture at NSE. He was reporting to Ramakrishna," the agency told the court.