Former MD and CEO of NSE Chitra Ramkrishna’s Custody Extended Till April 11

In connection with the NSE co-location case, a special court in Delhi on Monday granted the Central Bureau of Investigation (CBI) permission to collect a handwriting specimen from Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE). CBI Judge Sanjeev Aggarwal granted the CBI permission to collect handwriting samples during judicial custody for investigation purposes on Monday.

Meanwhile, the court extended Chitra Ramkrishna’s judicial custody until April 11, 2022. At the end of her judicial custody, she was brought before the court. The CBI prosecutor stated on Monday that the investigation is currently at a critical stage and that we are examining several digital pieces of evidence in the case.

In Chitra Ramakrishna’s bail petition last week, the same court requested a response from the investigation agency within two weeks. The CBI stated in the National Stock Exchange Co-location case that the investigation has alleged that in pursuance of criminal conspiracy, the accused Chitra Ramakrishna, by misusing her official position, re-designated the post of accused Anand Subramanian as Group Operating Officer and Advisor to MD from April 1, 2015, without informing the NRC or the board.

The CBI is investigating the alleged improper dissemination of information from market exchange computer servers to stockbrokers. Previously, the Securities and Exchange Board of India (SEBI) sanctioned the National Stock Exchange (NSE), its former CEOs Chitra Ramakrishna and Ravi Narayan, as well as two other officials, for lapses in senior-level recruitment.

Ravi Narain was the National Stock Exchange’s MD and CEO from April 1994 to March 2013, and Chitra Ramkrishna was the NSE’s MD and CEO from April 2013 to December 2016. The NSE and its top executives were found to have violated securities contract norms in the appointment of Anand Subramaniam as group operating officer and advisor to the managing director, according to market regulators.