Delhi HC rejected bail plea of NSE former managing director Chitra Ramkrishna

Chitra Ramkrishna

NEW DELHI: A Delhi court on Thursday rejected the bail plea of National Stock Exchange’s (NSE) former managing director Chitra Ramkrishna and former group operating officer (GOO) Anand Subramanian for alleged bourse manipulation.

Justice Sanjeev Aggarwal refused to grant bail to the two accused after the Central Bureau of Investigation (CBI) had opposed their bail claiming that they were involved in a serious offense affecting the integrity of the financial system.

According to the Securities and Exchange Board of India (Sebi),  Ramkrishna had taken several important decisions during her tenure as NSE’s MD and CEO in the year  2013 to 2016, including Subramanian’s appointment, were guided by an unidentified yogi “who may be largely dwelling in the Himalayan Ranges”. Ramkrishna is alleged to have shared confidential information about the bourse with the “Himalayan Yogi”.

The CBI booked Sanjay Gupta, the owner and promoter of Delhi-based OPG Securities Pvt Ltd, and others in the case. According to the CBI, Gupta abused the NSE server architecture between 2010 and 2014, in a criminal conspiracy with unknown officials of the exchange, and even bribed Sebi officials.

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(MARCH – APRIL 2022)


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