The Central Bureau of Investigation (CBI) on Thursday opposed bail application of former NSE Group Operating Officer (GOO) Anand Subramanian, an accused in the co-location scam, on suspicion that he would influence witnesses and that economic offences with deep rooted conspiracies should be dealt with a different approach.
A bench of Justice Sudhir Kumar Jain postponed the matter for Friday, stating that another accused, former NSE CEO Chitra Ramkrishna’s pending bail petition will be taken up the same day.
The CBI, in its status report, argued examination of witnesses is on to unravel conspiracy behind fiddling of co-location facility at the NSE. Subramanian is highly influential and capable of influencing witnesses and destroying emails or digital evidences in case he is let out on bail, stated the agency.
Appearing for Subramanian, senior advocate Vikas Pahwa said the former GOO has been wrongly implicated as he is not associated in any manner with charges levelled against him in the CBI FIR. The CBI, however, is of the view that economic offences like NSE co-location scam fall in a different category given the deep-rooted conspiracies that lead to enormous loss of public fund which in turn affects country’s economy as a whole.
Subramanian had challenged in Delhi High Court a Special CBI Court’s refusal to grant bail to him. Same is the reason for Ramkrishna to come to Delhi High Court. Subramanian,who was also a former adviser to former NSE MD Ramkrishna, was the first person to be arrested by the CBI in February this year. On his interrogation, the CBI also nabbed Ramkrishna. And since then, both are behind the bars, with CBI filling a chargesheet against them on charges of corruption and official misuse of power.