NSE co-location case: CBI court defers bail applications of Ramkrishna, Subramaniam
The court also added that the orders will be pronounced on May 12.
- May 9, 2022,
- Updated May 9, 2022 2:07 PM IST
Delhi's Special CBI Court on Monday deferred orders on the bail applications of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna and Group Operating Officer and Advisor to MD Anand Subramanian in connection with the NSE co-location case.
The court also added that the orders will be pronounced on May 12.
The Central Bureau of Investigation recently arrested Ramkrishna and Subramanian in connection with the NSE co-location case.
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers.
Earlier the Securities and Exchange Board of India (SEBI) penalized the NSE and its former CEOs Ramakrishna and Ravi Narayan and two other officials for lapses in recruitment at the senior level.
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 regulator 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 inputs from Aneesha Mathur)
Delhi's Special CBI Court on Monday deferred orders on the bail applications of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna and Group Operating Officer and Advisor to MD Anand Subramanian in connection with the NSE co-location case.
The court also added that the orders will be pronounced on May 12.
The Central Bureau of Investigation recently arrested Ramkrishna and Subramanian in connection with the NSE co-location case.
The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers.
Earlier the Securities and Exchange Board of India (SEBI) penalized the NSE and its former CEOs Ramakrishna and Ravi Narayan and two other officials for lapses in recruitment at the senior level.
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 regulator 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 inputs from Aneesha Mathur)