Delhi court rejects bail pleas of Chitra Ramkrishna and Anand Subramanian

NEW DELHI: A Delhi court on Thursday dismissed the bail applications of the National Stock Exchange's (NSE) former boss Chitra Ramkrishna and group operating officer Anand Subramanian in the co-location case.

Denying the relief, Special Judge Sanjeev Aggarwal said there was no sufficient ground to grant them bail. The court reserved its order after hearing arguments from Arshdeep

Singh, advocate of the accused, as as well the prosecution.

Earlier, the Central Bureau of Investigation (CBI) had opposed their bail applications saying they could influence the witnesses and tamper with the evidence. It said the nature and gravity of the offence was quite severe and had far-reaching repercussions on the financial stability .

An FIR in this case was registered in May 2018, amid fresh revelations about irregularities at the country's largest stock exchange. The CBI is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stock brokers.

Earlier, the Securities and Exchange Board of India (SEBI) has penalised the NSE, Ramakrishna, Ravi Narain, and two other officials for lapses in recruitment at the senior level.