CBI files chargesheet against former NSE CEO Chitra Ramakrishna and Subramanian in alleged co-location scam case

The Central Bureau of Investigation (CBI) filed a chargesheet yesterday against the former National Stock Exchange (NSE) managing director Chitra Ramakrishna and its former group operating officer Anand Subramanian in the alleged co-location scam case.

CBI has alleged that Chitra allegedly abused her official position in key decisions among other charges and is probing the alleged improper dissemination of information from the computer servers of the market exchanges to the stockbrokers.

CBI had arrested Subramanian and Chitra in connection with the case in February and March respectively. On February 11, Chitra  Ramakrishna was fined Rs 3 crore by Securities and Exchange Board of India (SEBI) for allegedly violating rules in the appointment of Mr Subramanian. The case was registered by the CBI in 2018, but action against Ms Ramkrishna and Mr Subramanian followed a report of SEBI that indicted Ms Ramkrishna for illegal appointment of Mr Subramanian and for allegedly sharing confidential information related to the bourse with a “Himalayan Yogi”.

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