Lawstreet Journal

Ex-NSE CEO Chitra Ramakrishna's Anticipatory Bail Is Denied By A Delhi Court In The NSE Co-Location Case

Lawstreet Journal 7 Mar 2022 7:59pm

Image courtesy: Lawstreet Journal Judiciary Ex-NSE CEO Chitra Ramakrishna's Anticipatory Bail Is Denied By A Delhi Court In The NSE Co-Location Case

In the NSE co-location case, a Delhi court refused anticipatory bail to Chitra Ramakrishna, the former chief executive officer of the NSE.

In a major move in the National Stock Exchange (NSE) co-location case, Delhi's Rouse Avenue Court refused former NSE CEO Chitra Ramakrishna anticipatory bail on Saturday. Special CBI Judge Sanjeev Aggarwal issued the orders refusing the pre-arrest bail, but a complete order with specific explanation has yet to be issued. The court had deferred its decision on Ramakrishna's request on February 28.

"However, after hearing both the parties at detail as above and after review of the entire material, no good reason for ad-interim protection from arrest is made out in favour of the applicant accused at this time," the Special CBI Judge said while reserving his order.

Given the overall facts and circumstances of the case, as well as the grave and serious allegations levelled against the applicant/accused as stated above, there is no basis for anticipatory bail at this time. The judge ruled that the case should be dismissed.

Ramakrishna was recently questioned by the CBI about the case. Earlier this year, the Income Tax Department raided multiple locations in Mumbai and Chennai associated to Chitra Ramakrishna.

Meanwhile, the court has served notice on Anand Subramanian's bail application, requesting a response from the Central Bureau of Investigation. On March 11, the court will hear the said plea.

 

RAMAKRISHNA AND ANAND SUBRAMANIAN WERE RAIDED BY THE DEPARTMENT OF INFORMATION TECHNOLOGY.

After a SEBI report indicated… Continue Reading...


Tagged: National Stock Exchange   Chitra Ramakrishna  
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