The CBI special court in Mumbai has rejected the anticipatory bail of former NSE MD and CEO Chitra Ramkrishna.

The CBI has questioned Ramkrishna in the NSE co-location scam and are likely to arrest her after arresting her close aide Anand Subramanian.

Ramkrishna was appointed as NSE and MD and CEO in 2013 and she has been viewed as one of the key conspirators in the co-location scam by the CBI, the sources said. 

Ramkrishna had said that she was guided by a Baba from Himalayas for running the exchange.

NSE’s former boss Ravi Narain too is under CBI scanner and a lookout notice was issued by CBI against him and Ramkrishna a few weeks ago. The CBI claims to have interrogated Narain at its office in Delhi.

NSE co-location scam

The co-location scam centers around flawed trading infrastructure of the NSE that gave preferential treatment to some brokers. Also, the angle of alleged data theft is one of the crucial aspects of the NSE scam and it is being looked into by the CBI.

NSE started providing co-location trading services from 2010 and it lacked any checks and balances by market regulator SEBI.

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