Delhi Court Extends Chitra Ramkrishna’s Custody Till April 11 In NSE Co-Location Case

The court also will pass order on the CBI application seeking handwriting specimen of Chitra Ramkrishna during judicial custody

Chitra Ramkrishna was arrested by the CBI in the NSE co-location scam, amid fresh revelations about irregularities at the country's largest stock exchange. Image: Getty

New Delhi: A Delhi Court on Monday extended judicial custody of Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), until April 11, news agency ANI has tweeted.

NSE Co-Location Case | A Delhi Court extends judicial custody till April 11, 2022 of Chitra Ramkrishna, former managing director and chief executive officer of National Stock Exchange.

— ANI (@ANI) March 28, 2022

The court also will pass order on the CBI application seeking handwriting specimen of Chitra Ramkrishna during judicial custody.

On last week, the court rejected bail application of another accused, NSE’s former group operating officer Anand Subramanian.

Subramanian is currently lodged in judicial custody.

After hearing counsels for the CBI and Subramanian, Special Judge Sanjeev Aggarwal passed the order.

Subramanian was arrested by the CBI on February 24 and was remanded to custodial interrogation. The court sent him to 14-day judicial custody on March 9.

Earlier, the court had ordered that Chitra Ramakrishna be physically produced before the court next on March 28.

Ramkrishna was produced in the court by the CBI following expiry of her 7-day custody where the investigation agency urged the court to remand her to judicial custody.

Both were arrested in the case related to the co-location scam, the FIR for which was registered in May 2018, amid fresh revelations about irregularities at the country's largest stock exchange.

The CBI is looking into the alleged improper dissemination of information from the computer servers of the market exchanges to the stock brokers.

The co-location facility by NSE offered brokers to place their servers within the stock exchange premises giving them faster access to the markets. Later it was alleged that some brokers in connivance with insiders abused the algorithm and the co-location facility to make windfall profits.