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New Delhi, May 20 The Delhi High Court on Friday sought the response of the Central Bureau of Investigation (CBI) on the bail application of National Stock Exchange's (NSE) former chief Chitra Ramkrishna, who was arrested in connection with the NSE co-location scam case.Seeking the response of the central probe agency, Justice Sudhir Kumar Jain posted the matter for the next hearing on May 31.On Wednesday, Ramkrishna approached the Delhi High Court for bail, following the denial of her plea by the trial court.However, the bench of Justice Talwant Singh had recused itself from hearing her plea on May 18.On May 12, special CBI court Judge Sanjeev Aggarwal dismissed her bail application, considering the gravity of the matter.Ramkrishna, along with co-accused and former NSE official Anand Subramanian, are currently lodged in Tihar Jail under judicial custody. They have been charge-sheeted under various sections of the IPC.The co-location scam denotes how some of the brokers, who in the co-location facility offered by the NSE, could place their servers within the stock exchange premises giving them faster access to the markets, had in connivance with insiders abused the algorithm and the facility to make windfall profits.The CBI has been probing the case since May 2018.Recently, the SEBI had imposed a fine of Rs 3 crore on Ramkrishna, following the market regulator finding that she allegedly shared vital inputs about the NSE with a mysterious Himalayan yogi, including information on "organisational structure, dividend scenario, financial results, human resource policies and related issues, response to regulator".On April 1, 2013, Ramkrishna became the CEO and MD of NSE. She brought Subramanian to the NSE as her advisor. Subramanian was made the Chief Strategic Advisor of NSE. He served at this post between 2013 and 2015 before being made Group Operations Officer and Advisor to the MD between 2015 and 2016, despite having no exposure to the capital market.Previously working as a mid-level manager in Balmer and Lawrie, he had seen his salary increase from Rs 15 lakh to Rs 1.68 crore annually, and then to Rs 4.21 crore.Subramanian quit NSE in October 2016 and Ramkrishna left in December 2016. The CBI swung into action in the case in 2018 and has been probing the matter since then.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Rouse Avenue District Court of Delhi on Thursday reserved its order on the bail petition of former National Stock Exchange (NSE) CEO Chitra Ramkrishna, arrested by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA) in co ...

New Delhi, July 18 A special court on Monday extended by four days the remand of Chitra Ramkrishna, ... ...

New Delhi, July 14 The Enforcement Directorate (ED) on Thursday arrested Chitra Ramkrishna, the former CEO cum MD ... ...

New Delhi, July 9 The Central Bureau of Investigation (CBI) has questioned former Mumbai Police Commissioner Sanjay Pandey ... ...

New Delhi, July 8 On the directions of Union Ministry of Home Affairs (MHA), the Central Bureau of ... ...

New Delhi, July 7 The Central Bureau of Investigation (CBI) on Thursday said in its status report in ... ...

New Delhi, May 21 The CBI on Saturday launched a search operation at over ten locations in connection ... ...

New Delhi, May 20 The Delhi High Court on Friday sought the response of the Central Bureau of ... ...