“Can’t Be VIP Prisoner, Rules Can’t Be Changed,” Says Court On Chitra Ramkrishna’s Home Food Plea

New Delhi: Former National Stock Exchange (NSE) chief Chitra Ramkrishna, who is accused of being involved in big lapses in the India’s largest Stock Market, including sharing of confidential information with ‘Himalayan Yogi’, 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 – 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 “co-location scam”.

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 her’s 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. “Hence we want her to be sent to judicial custody,” the agency argued.

Her jail custody was approved by court and her request for home food and other amenities, was rejected.

“Every prisoner is the same. She can’t be a VIP prisoner because of what she had been. Rules can’t be changed,” 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 – 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 “Himalayan Yogi” in all personal and professional matters for around 20 years. The “yogi” was later revealed to be Anand Subramanian, who is a former stock exchange official, arrested in a market manipulation case.

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