new Delhi: A Delhi court on Monday allowed the Central Bureau of Investigation (CBI) seven-day custodial interrogation of Chitra Ramakrishna in the co-location scam case, according to news reports.
The central probe agency has sought 14-day remand of former NSE Managing Director (MD) and Chief Executive Officer (CEO) Ramakrishna to face him along with other National Stock Exchange (NSE) and Securities and Exchange Boards. Officials of India (SEBI) the central probe agency in the case told the court.
Ramakrishna was arrested by the CBI on Sunday.
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According to CBI sources, Ramakrishna will be produced along with Anand Subramaniam, former Group Operating Officer (GOO) of NSE. The agency will seek the custody remand of both of them. Ramakrishna will have a face-off with Subramaniam and the investigating officer will record their statements simultaneously.
CBI will try to verify the evidence collected by them.
This is the second arrest in the NSE co-location scam case. Ramakrishna was arrested from his Delhi residence.
Subramaniam was arrested on the night of 24 February. He was later sent to CBI custody.
Ramakrishna and Subramaniam will undergo a medical examination at a government hospital before being taken to the Rouse Avenue Court. However, the agency is also contemplating to present them through video conferencing to avoid any untoward incident.
The agency has been investigating the matter since May 2018, but they have not found any concrete evidence to identify the mysterious Himalayan “yogi” with whom Ramakrishna shared confidential information.
SEBI had recently imposed a fine of Rs 3 crore on him after the markets regulator found that he had allegedly shared important information about NSE with “Yogi” between 2014 and 2016.
“Information about the organizational structure, dividend scenario, financial results, human resource policies and related issues, response of the regulator, etc. was shared with Yogi,” an official said.
Ramakrishna became the CEO and MD of NSE on 1 April 2013. She brought in Subramaniam as her advisor in the same year.
Subramaniam was made the Chief Strategic Advisor of NSE. He held this position between 2013 and 2015 before becoming Group Operations Officer and Advisor to MD between 2015 and 2016 despite having no exposure to capital markets.