A Delhi court on Monday allowed the CBI to interrogate former National Stock Exchange (NSE) Managing Director and Chief Executive Officer Chitra Ramakrishna for 7 days in the NSE co-location scam case. Special Judge Sanjeev Agarwal passed the order after hearing the arguments of the CBI and the counsel appearing for the accused.
The investigating agency had demanded 14-day custodial interrogation from him. The CBI on Sunday arrested the accused after his anticipatory bail plea was rejected by the court on Saturday.
In the co-location facility provided by NSE, brokers can place their servers in the stock exchange premises to give them faster access to the markets. It has been alleged that some brokers with the connivance of insiders made windfall profits by misusing algorithms and co-location facility.
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