CBI Court Sends Ex-NSE Official Anand Subramanian To 14-Day Judicial Custody
On Monday, the court had sent Chitra Ramkrishna, former managing director and chief executive officer of NSE, to 7-day CBI custody
New Delhi: A Central Bureau of Investigation (CBI) court in Delhi on Wednesday sent Anand Subramanian, former group operating officer and advisor to former managing director of National Stock Exchange (NSE), to 14-day judicial custody in the NSE co-location scam case, according to news reports.
On Monday, the court had sent Chitra Ramkrishna, former managing director and chief executive officer of NSE, to 7-day CBI custody in the NSE co-location scam case, saying her custodial interrogation was required for fair and proper investigations.
The CBI early this week had said Ramkrishna improperly hired Subramanian by coercing the HR department of NSE.
Later in conspiracy with Subramanian, Ramkrishna influenced the officials of NSE to facilitate him in having access to important decision-making processes of NSE.
During the same period OPG Securities was gaining undue advantages in NSE by logging into secondary server, the central probing agency noted.
It said that during Ramkrishna’s tenure as joint MD, the co-location was conceptualised and implemented.
Market regulator Securities and Exchange Board of India (Sebi) had imposed a penalty of Rs 5.20 crore on OPG Securities and its directors in the co-location scam case. The OPG Securities directors who have been penalised include Sanjay Gupta, Sangeeta Gupta and Om Prakash Gupta.
Sources in the CBI said that Ramkrishna would be produced along with Subramanian. The agency will seek custodial remand of both of them. Ramkrishna would be confronted with Subramanian and their statements will be recorded together by the investigating officials.
The CBI will try to corroborate the evidences collected by them. Chitra Ramkrishna was appointed as MD and CEO of NSE on April 1, 2013.
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