New Delhi: Former National Stock Exchange (NSE) chief Chitra Ramkrishna, who is accused of being involved in big lapses in the Indiaโs largest Stock Market, including sharing of confidential information with โHimalayan Yogiโ, has been sent to jail for 14 days. She was heading the NSE since 2013, and on 24 February 2022, was arrested by the Central Bureau of Investigation, after days of questioning in what has been dubbed the market manipulation scam. Her counsel pressed for special facilities in jail, which court has denied saying rules are same for all.
The case was filed in 2018 โ involved an unfair advantage in trading with some brokers. The agency is investigating the allegations of the information leak from the computer servers of the market exchanges to stockbrokers which is termed as โco-location scamโ.
The former NSE Chief has moved a petition seeking bail, citing that the agency does not seek her custody any more.
But this appeal of herโs was opposed by CBI arguing that she is an influential person. Probing is still in progress on her foreign visits and other aspects of the case. โHence we want her to be sent to judicial custody,โ the agency argued.
Her jail custody was approved by court and her request for home food and other amenities, was rejected.
โEvery prisoner is the same. She canโt be a VIP prisoner because of what she had been. Rules canโt be changed,โ judge Sanjeev Aggarwal said, as her counsel pressed for special facilities inside the jail.
The court, however, permitted her for carrying along a copy of prayer books โ the Hanuman Chalisa and Bhagwad Gita.
After nearly investigating the matter against a Delhi-based stockbroker for nearly four years, Ramkrishna was arrested by the CBI. After market regulator Securities and Exchange Board of India (SEBI) released a report, indicating alleged misuse of power by the top management of the NSE, she was arrested.
According to the report, Ramkrishna was guided by a mysterious โHimalayan Yogiโ in all personal and professional matters for around 20 years. The โyogiโ was later revealed to be Anand Subramanian, who is a former stock exchange official, arrested in a market manipulation case.
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.